IGI Logo

Technical Outlook:

Nifty (Spot):

Nifty is facing resistance near downsloping trendline resistance placed around 18150 after a smart rally, therefore, we could ess some profit booking where 17800 will be the first support level while 17600-17500 area has become a strong demand zone at any correction. On the upside, if the Nifty manages to sustain above the 18150 level then it may head towards a fresh all-time high where 18350 will be an intermediate hurdle.

Bank nifty (Spot):

Banknifty is also facing resistance near the 38750-39000 resistance zone where 37500 will be the immediate support level while 37000-36700 is a strong demand zone. On the upside, If it manages to take out the 39000 level then we can expect a move towards the 40700 level where 39500 will be an intermediate hurdle.

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at https://www.swastika.co.in/disclaimer
SEBI Reg. No. :  NSE/BSE/MSEI: INZ000192732

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer