IGI Logo

Market Review:

Indian markets ended a volatile session with small gains on Monday. Autos, PSU banks and realty shares advanced while oil & gas, FMCG and metal shares were under pressure. Small and microcap shares rallied. The barometer index, the S&P BSE Sensex gained 114.92 points or 0.19% to 59,106.44. The Nifty 50 index rose 38.30 points or 0.22% to 17,398.05.

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 17330. Any move below the same may extend the fall toward 17250-17180 mark. On the flip side 17500-17580 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 17330 and on a decisive close below expect a fall to 17250-17180 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 40840 levels on the downside and on a decisive close below expect a fall to 40650-40400. There is an immediate resistance at 41300-41650 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