IGI Logo

Market Review:

Indian markets ended with decent gains on Thursday, tracking positive global shares. Auto and IT were the other sectoral leaders. US President Joe Biden's decision to waive intellectual property rights on vaccines boosted global stock markets. The S&P BSE Sensex, added 272.21 points or 0.56% to 48,949.76. The Nifty 50 index gained 106.95 points or 0.73% to 14,724.80.

Nifty Technical Outlook

Nifty is expected to open gap up and likely to witness positive move during the day. . On technical grounds, Nifty has an immediate resistance at 14800. If nifty closes above that, further upside can be expected towards 14870-14950 mark. On the flip side 14650-14550 will act as strong support levels. It’s a stock specific market trade calls with strict stoploss.

Action: Nifty has an immediate resistance placed at 14800 and on a decisive close above expect a rise to 14870-14950 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 33200 levels on the upside and on a decisive close above expect a rise to 33500-33850. There is an immediate support at 32700-32450 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