IGI Logo

Market Review:

Indian markets ended with steep losses on Thursday, extending losses for the fifth straight session. Barring few bank stocks, shares declined across sectors. The barometer index, the S&P BSE Sensex, tumbled 535.57 points or 1.13% to 46,874.36. The Nifty 50 index lost 149.95 points or 1.07% to 13,817.55.

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 13900. If nifty closes above that, further upside can be expected towards 14000-14080 mark. On the flip side 13720-13650 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 13900 and on a decisive close above expect a rise to 14000-14080 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 30600 levels on the upside and on a decisive close above expect a rise to 30850-31000. There is an immediate support at 30100-29840 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