IGI Logo

Market Review:

Indian markets ended with strong gains on Monday. All the sectoral indices on the NSE ended in the green. IT, metals and auto shares were in demand. The barometer index, the S&P BSE Sensex, up 433.30 points or 0.82% to 53,161.28. The Nifty 50 index gained 132.80 points or 0.85% to 15,832.05.

Nifty Technical Outlook

Nifty is expected to open gap down and likely to witness profit booking during the day. Nifty has shown a positive opening and buying rally in yesterday’s session and a profit booking is expected in today’s session. On technical grounds, Nifty has an immediate support at 15750. Any move below the same may extend the fall toward 15670-15600 mark. On the flip side 15920-16000 will act as strong resistance levels. It’s a stock specific market, 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 15670-15600 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 33500 levels on the downside and on a decisive close below expect a fall to 33240-33000. There is an immediate resistance at 34130-34370 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