IGI Logo

Market Review:

Indian markets crashed on Friday. Bargain buying emerged at lower levels and the Nifty managed to close a tad above 17,600 mark. The barometer index, the S&P BSE Sensex tumbled 874.16 points or 1.45% to 59,330.90. The Nifty 50 index slumped 287.60 points or 1.61% to 17,604.35.

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 resistance at 17740. If nifty closes above that, further upside can be expected towards 17850-18000 mark. On the flip side 17500-17370 will act as strong support levels. It’s a stock specific market trade calls with strict stop loss

Action: Nifty has an immediate resistance placed at 17740 and on a decisive close above expect a rise to 17850-18000 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 40850 levels on the upside and on a decisive close above expect a rise to 41100-41500. There is an immediate support at 40200-39940 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