IGI Logo

Technical Outlook:

Nifty (Spot):

Nifty is facing resistance at 20-DMA of 14840 after a pullback where Nifty has to sustain above its 20-DMA for any meaningful rally towards 15200-15300 levels. On the downside, 14550-14450 is a strong support area; below this, we can expect major weakness and till then, Nifty is likely to swing in the 14500-14800 band. Today is the weekly expiry where traders are advised to wait and watch the behavior of Nifty in the 14800-14850 band then trade accordingly.

Banknifty (Spot):

Banknifty is underperforming where 33200-33000 is an immediate support area while 33625-33675 is an immediate resistance area while 34000 will be the next important hurdle and 34500-34600 is the key resistance area in the upside.

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at https://www.swastika.co.in/disclaimer

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