IGI Logo

Technical Outlook:

Nifty (Spot):

Nifty is pausing near the 17500 level and SGX Nifty is suggesting a weak opening however the overall bullish trend is intact where 100-DMA of 17330 will be the first support while 17100 will be the next major support level. On the upside, 17500 is an immediate hurdle while 17640 is the next target level. Traders can take a risk to take long positions near 17330 with an intraday stop loss of 17130 for the target of 17500.

Bank nifty (Spot):

Banknifty still needs to cross the critical supply zone of 36700-37000 to get momentum while 35750/35500 will be immediate support levels at any pullback. Traders can play the 35700-36700 range until it witnesses a decisive breakout.

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