Banks, FMCG, Automobiles Sectors Will be in focus by Mr. Rahul Sharma, Equity99
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Below is quote On Today’s Market report by Mr. Rahul Sharma, Co- Founder, Equity99.
Markets today rose 0.73% with Nifty up 118 points. Today midcap index was in focus after being weak for several sessions it today ended its losing streak with the Midcap index gaining 1.43%. Banking stocks were also in focus today with AU small finance being the top gainer among the pack overall the Banking Index was up 1.67. All Indices were in the green today except for Nifty IT & FMCG. Nifty Metals was the top gainer up 2.90%. Bajaj Finserv was the top gainer among the Nifty50 pack after the company received SEBI`s nod for setting up AMC.
It looks as if markets have stabilized following the selloff in Midcaps & Smallcaps.
Sectors to Focus for tomorrow – Metals, Banks, FMCG, Automobiles, Real-Estate.
Nifty has strong & immediate support at 16500 followed by 16425 & 16375.
Resistance for Nifty will be 16700 followed by 16750-16800
Similarly for Bank Nifty which outshined in today's session has strong & immediate support at 35500 -35380-35200 & resistance at 35900-36200 levels.
Above views are of the author and not of the website kindly read disclaimer
