IGI Logo

Market Review:

Indian markets ended with modest losses on Monday. PSU Bank, pharma and metals stocks were in demand while IT stocks corrected. The barometer index, the S&P BSE Sensex, fell 189.45 points or 0.36% at 52,735.59. The Nifty 50 index lost 45.65 points or 0.29% at 15,814.70.

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 support at 15750. Any move below the same may extend the fall towards 15670-15550 mark. On the flip side 15900-16000 will act as strong resistance zones. It’s a stock specific market and trade calls with strict stop loss.

Action: Nifty has an immediate support placed at 15750 and on a decisive close below expect a fall to 15670-15550 levels.

Bank Nifty

Bank Nifty faces an immediate support around 35200 level on the downside and on a decisive close below expect a fall to 34900-34470. There is an Immediate resistance at 35900-36300 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