IGI Logo

​​​​​​Market Review:

Indian markets ended a volatile trading session with modest losses on Wednessday. Barring the Nifty Media index, all sectoral indices on the NSE ended in the red. The barometer index, S&P BSE Sensex dropped 537.22 points or 0.94% at 56,819.39. The Nifty 50 index fell 162.40 points or 0.94% at 17,038.40.

Nifty Technical Outlook

Nifty is expected to open on a flattish note and likely to witness sideways move during the day. Nifty is trading between the averages from past few trading sessions. Nifty is facing the resistance of its 50 DMA followed by 200 DMA & 100 DMA on the upside. On technical grounds, Nifty has an immediate resistance at 17120. If nifty closes above that, further upside can be expected towards 17200-17270 mark. On the flip side 16960-16880 will act as strong support levels. It’s a stock specific market trade calls with strict stoploss

Action: Nifty has an immediate resistance placed at 17120 and on a decisive close above expect a rise to 17200-17270 levels.

Bank Nifty

Bank Nifty is currently in the consolidating phase. Bank Nifty will face its 50 DMA average resistance in the coming session. Bank Nifty faces an immediate resistance around 36270 levels on the upside and on a decisive close above expect a rise to 36500-36780. There is an immediate support at 35840-35600 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