IGI Logo

Market Review:

Indian markets ended positive note on Monday. Global markets as global inflation cools down, giving investors hope that central banks will not need to tighten monetary policy as much as expected. The barometer index, the S&P BSE Sensex jumped 367.47 points or 0.56% to 66,527.67. The Nifty 50 index added 107.75 points or 0.55% to 19,753.80.

Nifty Technical Outlook

Nifty is expected to open on a flattish note and likely to witness positive move during the day. On technical grounds, Nifty has an immediate resistance at 19820. If nifty closes above that, further upside can be expected towards 19900-20000 mark. On the flip side 19640-19550 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 19820 and on a decisive close above expect a rise to 19900-20000 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 46140 levels on the upside and on a decisive close above expect a rise to 46500-46780. There is an immediate support at 45550-45300 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