IGI Logo

Market Review:

Indian markets declined for third consecutive trading session on selling pressure in index pivotals. The Nifty slipped below the 15,100 mark in intraday trade but managed to close above that level. PSU stocks logged strong gains. The barometer index, the S&P BSE Sensex, dropped 379.14 points or 0.73% at 51,324.69. The Nifty 50 index fell 89.95 points or 0.59% at 15,118.95.

Nifty Technical Outlook

Nifty is expected to open gap down likely to witness negative move during the day. On technical grounds, Nifty has an immediate support at 15070. Any move below the same may extend the fall towards 15000-14930 mark. On the flip side 15200-15300 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 15070 and on a decisive close below expect a fall to 15000-14930 levels.

Bank Nifty

Bank Nifty faces an immediate support around 36350 level on the downside and on a decisive close below expect a fall to 36000-35700. There is an Immediate resistance at 37000-37370 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