IGI Logo

Market Review:

Indian markets ended with minimal gains on Monday, snapping a twoday losing run. Healthcare, pharma and FMCG shares were in demand. On the other hand, realty, media and auto shares were under pressure. The barometer index, the S&P BSE Sensex rose 126.76 points or 0.22% to 57,653.86. The Nifty 50 index added 40.65 points or 0.24% to 16,985.70.

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 17070. If nifty closes above that, further upside can be expected towards 17180-17250 mark. On the flip side 16870-16800 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 17070 and on a decisive close above expect a rise to 17180-17250 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 39740 levels on the upside and on a decisive close above expect a rise to 40000-40280. There is an immediate support at 39240-39000 levels.

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