Nifty September 4th Week Analysis ( Detailed Analysis )Nifty 50 IndexNSE_DLY:NIFTYIshanMathur05Nifty’s weekly close at 23,346 is not very optimistic for the bulls. It is the 7th consecutive red bar on the Nifty weekly chart, which is not very common. Global uncertainties are making the bull case weak. If we get any positive news flow in the upcoming week, we can expect a possible rebound from the 23,300–23,000 zone. The important level for bears is last week’s low at 23,117. If bears are able to grip this level, we can expect further retracement up to 22,928–22,840. If Nifty bulls activate and manage to cross and sustain above the base level of 23,400–23,460, we can expect positive momentum. All levels are marked in the chart posted.