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Market News:

• Bel received a new order worth INR 533 Cr.

• PTC Industries Raises rs 1,800 Crore Through Qualified Institutions Placement

• Aequs signed long-term supply agreements with Safran covering machining, coating and assembly of aerospace components for Airbus and Boeing aircraft programmes

Technical Summary:

The index opened on a positive note and witnessed a gradual recovery toward the previous day’s high, eventually closing at the day’s high. On the daily scale, the index closed above the previous four-day high, indicating improving near-term momentum. On the sectoral front, IT and Realty were the top gainers of the day.

Levels to watch:

The Nifty has its crucial resistance 22800 (Pivot Level) and 22900 (Key Resistance). While support on the downside is placed at 22400 (Multiple Touches) and 22200 (Key Support).

What should short term traders expect?

The Index Can LONG above 22800 for the potential target of 23000 the stop loss of 22730 Level.

Technical Data Points

NIFTY SPOT: 22721 (+1.60%)

TRADING ZONE:

Resistance: 22800 (Pivot Level) and 23000 (Key Resistance)

Support: 22500(Multiple Touches) and 22300 (Key Support).

STRATEGY: BULLISH ABOVE 22800 (Key Resistance)

BANK NIFTY SPOT: 55481 (+1.03%)

TRADING ZONE:

Resistance: 55800 (Pivot Level) and 56000 (Key Resistance)

Support: 55000 (Pivot Level) and 54500 (Key Support).

STRATEGY: BULLISH ABOVE 55800 (Pivot Level)

SEBI Registration number is INH000000081.

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