IGI Logo

Market Review:

Indian markets surged on Thursday, tracking strength in US Dow futures. The indices opened almost flat but moved higher as the session progressed and finished near the day's high amid strong buying support. All the sectoral indices on the NSE ended in the green with IT, metal and financial stocks rising the most. The S&P BSE Sensex, surged 776.5 points or 1.35% at 58,461.49. The Nifty 50 index jumped 234.75 points or 1.37% at 17,401.65.

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 17320. Any move below the same may extend the fall toward 17240-17170 mark. On the flip side 17500-17590 will act as strong resistance levels. It’s a stock specific market and trade calls with strict stop loss.

Action: Nifty has an immediate support placed at 17320 and on a decisive close below expect a fall to 17240-17170 levels.

Bank Nifty

Bank Nifty faces an immediate support around 36300 levels on the downside and on a decisive close below expect a fall to 36000-35730. There is an immediate resistance at 37000-37320 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