IGI Logo

Market Review:

Indian markets ended with substantial losses on Monday as a result of weak global cues ahead of the Federal Open Market Committee meet. Sectoral indices declined across the board. The Nifty closed tad below 17,150 mark. The barometer index, the S&P BSE Sensex, tumbled 1,545.67 points or 2.62% to 57,491.51. The Nifty 50 index slumped 468.05 points or 2.66% to 17,149.10.

Nifty Technical Outlook

Nifty is expected to open gap down and likely to witness selling pressure during the day. On technical grounds, Nifty has an immediate support at 17000. Any move below the same may extend the fall toward 16900-16800 mark. On the flip side 17240-17350 will act as strong resistance levels. It’s a stock specific market and trade calls with strict stop loss.

Action: Nifty has an immediate support placed at 17000 and on a decisive close below expect a fall to 16900-16800 levels

Bank Nifty

Bank Nifty faces an immediate support around 36500 levels on the downside and on a decisive close below expect a fall to 36100-35770. There is an immediate resistance at 37420-37800 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

.