IGI Logo

Market Review:

Indian markets rallied for the second day on Tuesday, as investors cheered the Union Budget announcements. Positive global cues also lifted the sentiment. The Nifty managed to close near 14,650 level led by rally in banks and auto shares. The barometer index, the S&P BSE Sensex, soared 1,197.11 points or 2.46% at 49,797.72. The Nifty 50 index surged 366.65 points or 2.57% at 14,647.85.

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 14770. If nifty closes above that, further upside can be expected towards 14880-15000 mark. On the flip side 14550-14450 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 14770 and on a decisive close above expect a rise to 14880-15000 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 34700 levels on the upside and on a decisive close above expect a rise to 35000-35370. There is an immediate support at 34250-34000 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