Published on 3/01/2020 5:18:54 PM | Source: Indiabulls Ventures Ltd

Views On post Market Outlook Of 03 January 2020 By Mr. Amit Shah

Posted in Top Stories| #Expert Views #Indiabulls Ventures Ltd

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Below is the Views On post  market outlook By Mr. Amit Shah, Technical Research Analyst with Indiabulls Ventures Ltd

Bears try to pounce on back of the global development and push index lower. Market breadth was a tad negative but nothing alarming. Overall the trend continues to remain up and we continue to maintain our bullish stance and our tgt of 12,400-12,450 zone. near term, support is placed at 12,200 zone. Broadly we expect mid and small caps to outperform going ahead and metal space will continue to shine. Support: 12,200-12,100 & Resistance: 12,300-12,400

Banknifty witnessed profit booking taking cues from global development. 31,900 is the near term key support level. A breach below the support zone would weaken the near term upward momentum and could trigger profit-taking for the banknifty. 32,500-32,600 zone has acted as resistance zone for the banknifty and has triggered profit booking around those levels. Support: 31,900-31,700 & Resistance: 32,300-32,500


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