IGI Logo

Market Review:

Indian markets ended with steady gains on Wednesday. Energy, FMCG and realty shares were in demand. While IT, metals and PSU banks corrected. The barometer index, the S&P BSE Sensex, rose 146.59 points or 0.25% to 59,107.19. The Nifty 50 index gained 25.30 points or 0.14% to 17,512.25.

Nifty Technical Outlook

Nifty is expected to open gap down and likely to witness profit booking during the day. On technical grounds, Nifty has an immediate support at 17430. Any move below the same may extend the fall towards 17370-17300 mark. On the flip side 17580-17660 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 17430 and on a decisive close below expect a fall to 17370-17300 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 40140 levels on the downside and on a decisive close below expect a fall to 39800-38500. There is an immediate resistance at 40630-41000 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