IGI Logo

Market Review:

Indian markets ended with decent gains on Friday amid positive global cues. PSU banks corrected while metals stocks extended rally on improved sectoral outlook. The S&P BSE Sensex, rose 256.71 points or 0.52% to 49,206.27. The Nifty 50 index gained 98.35 points or 0.67% to 14,823.15.

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 14900. If nifty closes above that, further upside can be expected towards 15000-15080 mark. On the flip side 14730-14670 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 14900 and on a decisive close above expect a rise to 15000-15080 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 33210 levels (i.e 100DMA) on the upside and on a decisive close above expect a rise to 33550-33770. There is an immediate support at 32800-32500 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