IGI Logo

Technical Outlook:

Nifty (Spot):

Nifty is sitting at a strong demand zone of 14630-14575 and SGX Nifty is suggesting a positive opening where 14770 will be an immediate hurdle while 14820 will be the next hurdle; above this, we can expect further strength towards the 14950-15050 zone while if Nifty slips below 14575 then we can expect selling pressure towards 14400-14250 zone. For the intraday, traders are advised to wait for the first 45 minutes to understand the trend and then trade accordingly.

Banknifty (Spot):

Banknifty is underperforming but 32000-31750 is a critical support zone and if it manages to hold this zone then we can expect positive momentum where 32500 is an immediate hurdle while 33300-33500 will be critical resistance zone. On the downside, if it slips below the 31750 level then selling pressure can be extended towards the 30500 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