IGI Logo

Market Review:

Indian markets ended near the day's high with robust gains on Tuesday, tracking positive cues in other Asian stocks. The Nifty closed above the 16,600 mark. Metal shares rallied followed by pharma, banks and realty stocks. The barometer index, the S&P BSE Sensex, advanced 403.19 points or 0.73% to 55,958.98. The Nifty 50 index added 128.15 points or 0.78% to 16,6224.60.

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 16700. If nifty closes above that, further upside can be expected towards 16770-16850 mark. On the flip side 16530-16440 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 16700 and on a decisive close above expect a rise to 16770-16850 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 36000 levels on the upside and on a decisive close above expect a rise to 36270-36600. There is an immediate support at 35450-35100 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