IGI Logo

Market Review:

Indian markets ended with heavy losses on Wednesday, sliding for the fourth straight session amid a broader selloff. The Nifty managed to close above the 14,700 mark after hitting the day's low of 14,696.05 in late trade. The barometer index, the S&P BSE Sensex, tumbled 562.34 points or 1.12% at 49,801.62. The Nifty 50 index lost 189.15 points or 1.27% at 14,721.30.

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 14800. If nifty closes above that, further upside can be expected towards 14890-15000 mark. On the flip side 14630-14500 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 14800 and on a decisive close above expect a rise to 14890-15000 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 34600 levels on the upside and on a decisive close above expect a rise to 35000-35400. There is an immediate support at 34000-33640 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