IGI Logo

Market Review:

Indian markets ended with robust gains on Wednesday amid recovering global stock markets. All the sectoral indices on the NSE ended in green. Realty, pharma and metal shares were in demand. The barometer index, the S&P BSE Sensex, jumped 611.55 points or 1.09% to 56,930.56. The Nifty 50 index added 184.60 points or 1.10% to 16,955.45.

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 17070. If nifty closes above that, further upside can be expected towards 17200-17300 mark. On the flip side 16860-16770 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 17070 and on a decisive close above expect a rise to 17200-17300 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 35370 levels on the upside and on a decisive close above expect a rise to 35740-36000. There is an immediate support at 34830-34500 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