IGI Logo

Market Review:

Indian markets ended with decent gains after a volatile session on Tuesday. While metals, banks, financials and autos advanced, IT, media, realty and oil & gas stocks declined. The barometer index, the S&P BSE Sensex, added 187.39 points or 0.33% to 57,808.58. The Nifty 50 index gained 53.15 points or 0.31% to 17,266.75.

Nifty Technical Outlook

Nifty is expected to open gap up and likely to witness positive move during the day. On technical grounds, Nifty has an immediate resistance at 17380. If nifty closes above that, further upside can be expected towards 17500-17600 mark. On the flip side 17180-17100 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 17380 and on a decisive close above expect a rise to 17500-17600 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 38400 levels on the upside and on a decisive close above expect a rise to 38780-39100. There is an immediate support at 37830-37500 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