IGI Logo

Technical Outlook:

Nifty (Spot):

Nifty is likely to breakout after many days of consolidation as SGX Nifty is suggesting a big gap up opening where the previous all-time high of 15431 will act as an immediate hurdle or 15400-15500 could as an immediate supply zone. On the downside, 15250-15200 will act as an immediate demand zone while 15000-14950 will be the key support zone. The momentum is bullish but it is difficult to chase gap up opening where traders are advised to wait and watch for the first 45 minutes and then trade accordingly.

Banknifty (Spot):

Banknifty is likely to open above the 36500 mark which may lead further shortcovering rally towards 37000/37500 level. 36500 should act as a support level after a gap up opening while 36000 will remain key support level.

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at https://www.swastika.co.in/disclaimer

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