IGI Logo

Technical Outlook:

Nifty (Spot):

Nifty is making higher highs and higher lows formation where it is bouncing back from 20-DMA after a pullback. SGX Nifty is suggesting a gap up opening in the resistance area of 16200- 16300 and if Nifty manages to take out this resistance area then we can expecta rally towards 16500/16600 levels. On the downside, 16050-16000 area will act as an immediate and strong demand zone.

Bank nifty :

Banknifty also witnessed a pullback from the 35500 hurdle however 34500- 34000 is a strong demand zone for a bounceback. On the upside, 33150/35500 are immediate hurdles then 36000-36300 will be the next critical resistance zone.

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