IGI Logo

Market Review:

Indian markets extended the winning streak for the third consecutive session on Thursday, amid firm global cues backed by dovish US Federal Reserve minutes. Barring the Nifty Consumer Durables index, all the sectoral indices n the NSE ended higher. IT, financials and oil & gas stocks were in demand. The barometer index, the S&P BSE Sensex, jumped 762.10 points . or 1.24% to 62,272.68. The Nifty 50 index gained 216.85 points or 1.19% to 18,484.10.

Technical Outlook

Nifty is expected to open negative and likely to witness profit booking during the day. On technical grounds, Nifty has an immediate support at 18370. Any move below the same may extend the fall toward 18270-18200 mark. On the flip side 18547-18600 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 18370 and on a decisive close below expect a fall to 18270-18200levels.

Bank Nifty

Bank Nifty’s next immediate support is around 42960 levels on the downside and on a decisive close below expect a fall to 42830-42620 There is an immediate resistance at 43300-43520 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