IGI Logo

Market Review:

Indian markets scraped together slight profits on Thursday. Banks and consumer durables shares saw an uptick in demand, while pharma, healthcare, and realty shares declined. Snapping a three day losing streak, the S&P BSE Sensex gained 64.55 points or 0.11% to 59,632.35. The Nifty 50 index added 5.70 points or 0.03% to 17,624.45.

Nifty Technical Outlook

Nifty is expected to open on a flattish note and likely to witness sideways move during the day. On technical grounds, Nifty has an immediate support at 17550. Any move below the same may extend the fall toward 17470-17400 mark. On the flip side 17700-17770 will act as strong resistance levels. It’s a stock specific market, trade calls with strict stop loss.

Action: Nifty has an immediate support placed at 17550 and on a decisive close below expect a fall to 17470-17400 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 42000 levels on the downside and on a decisive close below expect a fall to 41770-41500. There is an immediate resistance at 42500-42740 levels.

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at https://www.nirmalbang.com/disclaimer.aspx
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