IGI Logo

Market Review:

Indian markets ended with sharp losses on Monday, as surging COVID-19 cases in the country triggered fears of fresh lockdowns. All the sectoral indices on NSE ended in the red. The barometer index, the S&P BSE Sensex, slumped 1,707.94 points or 3.44% at 47,883.38. The Nifty 50 index tanked 524.05 points or 3.53% at 14,310.80.

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 support at 14200. Any move below the same may extend the fall towards 14100-14000 mark. On the flip side 14400-14500 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 14200 and on a decisive close below expect a fall to 14100-14000 levels.

Bank Nifty

Bank Nifty faces an immediate support around 30350 level on the downside and on a decisive close below expect a fall to 29850-29500. There is an Immediate resistance at 31250-31700 levels.

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