IGI Logo

Technical Outlook:

Nifty (Spot):

Nifty crosses 17950-18000 resistance zone but failed to close above this zone and SGX Nifty is suggesting a gap down opening where 17800-17775 will be immediate and strong support zone and we can expect an intraday bounceback from there while if Nifty slips below the 17775 mark then there is a risk of selling pressure towards 20-DMA of 17677. On the upside, 17950-18000 will again act as a resistance zone after a gap-down opening.

Banknifty (Spot):

Banknifty's chart structure and data are bullish but it is also facing some resistance near the 38500 level. On the downside, the 38000-37900 zone will act as an immediate and strong demand zone where it may try to bounceback while a decisive move below 37900 may lead to selling pressure towards 20-DMA of 37550 however any major weakness is expected only below 20-DMA. On the upside, 38180/38300 will act as immediate hurdles after a gap-down opening.

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