Nifty weekly technical analysis 7 to 11 November 2016 Nifty future this week closed with heavy loss. This week we almost saw 300 points drop in nifty. Which suggest selling pressure and panic in market. On downside nifty future achieved my target of 8490 and now heading towards next support as well as target of 8335. On daily as well as weekly chart, nifty future is trading in oversold zone so in my view traders must keep buy on dips view. Risk remain high and traders might have to face high volatile environment. American election, fed rate hike etc. definitely going impact world economies and investors sentiments. traders use 8430 to 8330 zone as buy and accumulate for minimum targets of 8490 and then 8655. Above 8665, nifty future will enter bullish trend for target 8825 and above. traders can use nifty 8500 and 8600 call options of December expiry as buy on decline for big gains in short to medium terms.