IGI Logo

Market Review:

Indian markets ended the session with strong gains on Monday. IT, auto and metal shares rallied while PSU banks and FMCG shares declined. The barometer index, the S&P BSE Sensex, spurted 617.14 points or 1.22% to 51,348.77. The Nifty 50 index climbed 191.55 points or 1.28% to 15,115.80.

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 resistance at 15200. If nifty closes above that, further upside can be expected towards 15280-15350 mark. On the flip side 15000-14930 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 15200 and on a decisive close above expect a rise to 15280-15350 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 36400 levels on the upside and on a decisive close above expect a rise to 36770-37000. There is an immediate support at 35750-35400 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