IGI Logo

Market Review:

Indian markets ended with decent gains on Wednesday. Banks and metal shares declined while auto and pharma shares ended with gains. The BSE Sensex advanced 137.50 points or 0.21% to 65,539.42. The Nifty 50 index added 30.45 points or 0.16% to 19,465.

Nifty Technical Outlook

Nifty is expected to open with gap down and likely to witness profit booking during the day. On technical grounds, Nifty has an immediate support at 19390. Any move below the same may extend the fall toward 19320-19200 mark. On the flip side 19520 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 19390 and on a decisive close below expect a fall to 19300-19240 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 44000 levels on the downside and on a decisive close below expect a fall to 43870-43500. There is an immediate resistance at 44200-44340 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