Bank Nifty has settled at 32678.85 levels with the loss of 1180 points - Choice Broking
Nifty Outlook
* After an opening, the benchmark index losses its early gain and dragged lower, made a low at 14460.15 levels in early session after that we saw some recovery from the bottom and finally its managed to close to 14637.80 levels with the loss of 1.5%.
* All the sectoral indices closed at red note except Nifty IT & Nifty Metal, which supported nifty recovery further.
* On the stock front, IT stocks were buzzing from the opening of the market where HCLTECH, TCS, WIPRO, INFOSYS were the top gainers while Banking & Financial stocks like BAJFINANCE, INDUSINDBANK, SBI, AXISBANK became a prime laggard for the day.
* Technically, the nifty index has found the support at 50 days Exponential Moving Averages and closed above it. Moreover, an oscillator Stochastic also showed positive crossover on the daily chart.
* At present, Nifty seems to have a support at 14450 levels, whereas resistance is placed at 14900 levels.
Bank Nifty
* On a Daily Chart,Banknifty has settled at 32678.85 levels with the loss of 1180 points.
* Furthermore, the index has been taken support of 100 Daily Average, sustained above it can show upside movement.
* On an Hourly Chart, Index has confirmed Bullish Harami Candlestick Pattern which suggest upside movement can be seen.
* At Present in the Index has support comes at 32400 level while resistance comes at 33600 Level.
To Read Complete Report & Disclaimer Click Here
Please refer disclaimer at https://choicebroking.in/disclaimer
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
