IGI Logo

Market Review:

Indian markets tumbled on Friday. Negative global cues triggered profit selling in domestic shares. The barometer index, the S&P BSE Sensex, fell 415.69 points or 0.66% to 62,868.50. The Nifty 50 index shed 116.40 points or 0.62% to 18,696.10.

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 18770. If nifty closes above that, further upside can be expected towards 18840-19000 mark. On the flip side 18630-18570 will act as strong support levels. It’s a stock specific market trade calls with strict stop loss.

Action: Nifty has an immediate resistance placed at 18770 and on a decisive close above expect a rise to 18840-19000 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 43640 levels on the upside and on a decisive close above expect a rise to 44000-44240. There is an immediate support at 43000-42770 levels.

Technical Call Updates

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at https://www.nirmalbang.com/disclaimer.aspx
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