MENU

Published on 18/01/2021 9:16:06 AM | Source: Nirmal Bang Ltd

Indian markets declined sharply on Friday, led by broader selling pressure - Nirmal Bang

Posted in Market Outlook| #Nirmal Bang Ltd #Market Outlook

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel  https://t.me/InvestmentGuruIndia 

Download Telegram App before Joining the Channel

Market Review:

Indian markets declined sharply on Friday, led by broader selling pressure. IT, pharma and PSU banks declined sharply. Rising coronavirus cases across US, Europe and China weighed on investors' sentiment. The barometer index, the S&P BSE Sensex, dropped 549.49 points or 1.11% to 49,034.67. The Nifty 50 index lost 161.90 points or 1.11% at 14,433.70.

 

Nifty Technical Outlook

Nifty is expected to open on a negative note and likely to witness profit booking during the day. On technical grounds, Nifty has an immediate support at 14370. Any move below the same may extend the fall towards 14300-14270 mark. On the flip side 14500-14570 will act as strong resistance zones. It’s a stock specific market and trade calls with strict stop loss.

 

Action: Nifty has an immediate support placed at 14370 and on a decisive close below expect a fall to 14300-14270 levels.

 

 

Bank Nifty

Bank Nifty faces an immediate support around 32100 level on the downside and on a decisive close below expect a fall to 31840-31570. There is an Immediate resistance at 32580-32870 levels.

 

 

Technical call updates

 

To Read Complete Report & Disclaimer Click Here

 

Please refer disclaimer at https://investmentguruindia.com/Disclaimer/nirmal.html

SEBI Registration number is INH000001766

 

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer