IGI Logo

Technical Outlook:

Nifty (Spot):

Nifty is in a bullish momentum where it is likely to test its immediate target of 16650 while PCR is in little overbought territory at 1.67 level which may cause some profit booking near the 16650 level. On the downside, 16500 will act as strong support ahead of weekly expiry tomorrow as the highest OI on the Put side is shifting from 16400 to 16500 strike level while the previous breakout point of 16350 will be a strong support level at any correction.

Banknifty (Spot):

Banknifty is still consolidating in the 35800-36200 zone while 36500 is the next critical hurdle; above this, we can expect a rally towards the 37200-37700 zone. On the downside, 35500 will be immediate support while 35200-35000 will be critical support zone.

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at https://www.swastika.co.in/disclaimer
SEBI Reg. No. :  NSE/BSE/MSEI: INZ000192732

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer