IGI Logo

Market Review:

Indian markets closed with noteworthy gains on Wednesday, despite negative global cues. The realty, FMCG, and auto shares performed exceptionally well, while metal, healthcare, and oil & gas shares declined. The S&P BSE Sensex, rose for the fifth consecutive session, advanced 169.87 points or 0.28% to 60,300.58. The Nifty 50 index rose 44.35 points or 0.25% to 17,813.60.

Nifty Technical Outlook

Nifty is expected to open on a flattish note and likely to witness sideways move during the day. On technical grounds, Nifty has an immediate resistance at 17840. If nifty closes above that, further upside can be expected towards 17930-18000 mark. On the flip side 17700-17600 will act as strong support levels. It’s a stock specific market trade calls with strict stop loss.

Action: Nifty has an immediate resistance placed at 17840 and on a decisive close above expect a rise to 17930-18000 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 43000 levels on the upside and on a decisive close above expect a rise to 43240-43500. There is an immediate support at 42500-42270 levels.

Technical Call Updates

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at https://www.nirmalbang.com/disclaimer.aspx
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