IGI Logo

Market Review:

Indian markets ended near the flat line with some negative bias on Thursday. IT, consumer durables and healthcare stocks were in demand. Trading was volatile on account of monthly F&O expiry today. The barometer index, the S&P BSE Sensex, slipped 12.17 points or 0.02% to 57,794.32. The Nifty 50 index lost 9.65 points or 0.06% to 17,203.95.

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 17270. If nifty closes above that, further upside can be expected towards 17330-17400 mark. On the flip side 17140-17080 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 17270 and on a decisive close above expect a rise to 17330-17400 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 35270 levels on the upside and on a decisive close above expect a rise to 35500-35780. There is an immediate support at 34870-34650 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