IGI Logo

Market Review:

Indian markets advanced for the third straight session and attained record closing levels on Monday, supported by firm global stocks. Hopes of continued economic support by the Fed Reserve due to weak US job data and talks of more stimulus in Japan and China boosted global shares. The barometer index, the S&P BSE Sensex, added 166.96 points or 0.29% to 58,296.91. The Nifty 50 index advanced 54.20 points or 0.31% to 17,377.80.

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 17450. If nifty closes above that, further upside can be expected towards 17550-17620 mark. On the flip side 17300-17220 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 17450 and on a decisive close above expect a rise to 17550-17620 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 37000 levels on the upside and on a decisive close above expect a rise to 37300-37550. There is an immediate support at 36550-36350 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