04-08-2021 10:10 AM | Source: Nirmal Bang Ltd
Nifty has an immediate resistance placed at 14900 - Nirmal Bang
News By Tags | #879 #9

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Market Summary:

Indian markets ended with strong gains on Wednesday, led by banks shares. The Nifty ended above the 14,800 mark. Shares climbed after the RBI kept policy rates unchanged but committed to a massive government bond purchase programme. The barometer index, the S&P BSE Sensex, advanced 460.37 points or 0.94% to 49,661.76. The Nifty 50 index added 135.55 points or 0.92% to 14,819.05.

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 14900. If nifty closes above that, further upside can be expected towards 15000-15100 mark. On the flip side 14750-14640 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 14900 and on a decisive close above expect a rise to 15000-15100 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 33600 levels on the upside and on a decisive close above expect a rise to 34000-34400. There is an immediate support at 32750-32400 levels.

 

Technical Call Updates

 

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