IGI Logo

Market Review:

Indian markets rose for fourth consecutive trading session and registered another record closing high on Thursday. Metal, IT and FMCG saw buying demand while banking and financial share came under pressure. The barometer index, the S&P BSE Sensex, gained 123.07 points or 0.23% at 54,492.84. The Nifty 50 index rose 35.8 35.8 points or 0.22% at 16,294.60.

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 16360. If nifty closes above that, further upside can be expected towards 16430-16500 mark. On the flip side 16220-16150 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 16360 and on a decisive close above expect a rise to 16430-16500 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 36270 levels on the upside and on a decisive close above expect a rise to 36500-36800. There is an immediate support at 35780-35500 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.