IGI Logo

Market Review:

Indian markets declined for the third session on Thursday amid lack of fresh triggers and mixed global cues. A spike in U.S. benchmark bond yields and a strong dollar capped gains in equities. The barometer index, the S&P BSE Sensex, fell 286.91 points or 0.48% at 59,126.36. The Nifty 50 index fell 93.15 points or 0.53% at 17,618.15.

Nifty Technical Outlook

Nifty is expected to open gap down and likely to witness selling pressure during the day. On technical grounds, Nifty has an immediate support at 17500. Any move below the same may extend the fall towards 17400-17320 mark. On the flip side 17700-17800 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 17500 and on a decisive close below expect a fall to 17400-17320 levels.

Bank Nifty

Bank Nifty faces an immediate support around 37100 level on the downside and on a decisive close below expect a fall to 36850-36500. There is an Immediate resistance at 37800-38100 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