IGI Logo

Market Review:

Indian markets ended with decent gains on Tuesday, rising for the third straight session. IT stocks were in demand as three sector bigwigs are set to announce their Q3 results on Wednesday. Metal stocks tumbled on profit selling. The barometer index, the S&P BSE Sensex, advanced 221.26 points or 0.37% to 60,616.89. The Nifty 50 index added 52.45 points or 0.29% to 18,055.75.

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 18180. If nifty closes above that, further upside can be expected towards 18300-18420 mark. On the flip side 17970-17900 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 18180 and on a decisive close above expect a rise to 18300-18420 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 38800 levels on the upside and on a decisive close above expect a rise to 39140-39500. There is an immediate support at 38300-38000 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