IGI Logo

Market Review:

Indian markets ended with strong gains on Wedesday, extending their winning run to fourth consecutive session. Pharma, healthcare and consumer durables stocks declined. On the other hand, banks, auto, metals and realty shares were in demand. The barometer index, the S&P BSE Sensex, advanced 533.15 points or 0.88% at 61,150.04. The Nifty 50 index gained 156.60 points or 0.87% to close at 18,212.35.

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 18300. If nifty closes above that, further upside can be expected towards 18400-18500 mark. On the flip side 18150-18070 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 18300 and on a decisive close above expect a rise to 18400-18500 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 39150 levels on the upside and on a decisive close above expect a rise to 39500-39800. There is an immediate support at 38500-38220 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