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Market News:

• A B Infrabuild Limited receives LoA for construction of two grade separators on NH-53 in Chhattisgarh under the EPC mode.

• Hi-Tech Pipes reported Q2FY27 sales volume of 1,65,016 MT, up 32% YoY and 6% QoQ, reflecting strong volume growth.

• Gujarat Inject secures a Rs 4.86 Cr solar order, boosting its clean-energy pivot.

Technical Summary:

The index opened on a positive note but failed to sustain above the prior day’s high and drifted lower toward the previous close. On the daily scale, the index formed a Doji candlestick, indicating indecision, while sustaining below the 5 and 12 DEMA reinforces a cautious near-term sentiment. On the sectoral front, Capital Market and FMCG were the top gainers, while Healthcare and Pharma faced selling pressure.

Levels to watch:

The Nifty has its crucial resistance 22600 (Pivot Level) and 22800 (Key Resistance). While support on the downside is placed at 22200 (Multiple Touches) and 22000 (Key Support).

What should short term traders expect?

The Index Can Short below 22300 for the potential target of 22100 the stop loss of 22380 level.

Technical Data Points

NIFTY SPOT: 22555 (+0.60%)

TRADING ZONE:

Resistance: 22600 (Pivot Level) and 22800 (Key Resistance)

Support: 22200 (Multiple Touches) and 22000 (Key Support).

STRATEGY: BEARISH TILL BELOW 22800 (Key Resistance)

BANK NIFTY SPOT: 54714 (+0.48%)

TRADING ZONE:

Resistance: 55000(Pivot Level) and 55500 (Key Resistance)

Support: 54000 (Pivot Level) and 53700 (Key Support).

STRATEGY: BEARISH TILL BELOW 55000 (Pivot Level)

SEBI Registration number is INH000000081.

Please refer disclaimer at https://geplcapital.com/term-disclaimerg