IGI Logo

Nifty

* Nifty started the week on a positive note, gaining nearly half a percent on the back of favorable global cues.

* After an initial uptick, the Nifty slipped in early trade but recovered as strong buying in IT majors and resilience in heavyweights across other sectors lifted the index higher. As a result, the Nifty 50 ended near 24,967.75, up around 0.4%.

* From a technical perspective, the Nifty faces immediate resistance at the 25,150 level; a breakout above this could open the door for further gains.

* Traders should closely track IT, metals, and realty stocks, while financials are likely to set the tone for the next session.

Bank  Nifty

* The banking index started on a positive note but failed to sustain the momentum and ended flat.

* Most of the banking majors moved in line with the index, with Indusindbk emerging as the top gainer, while Canbk and Federalbnk traded under pressure.

* The index continues to underperform, with banking heavyweights remaining on the sidelines.

* The index is current placed at the crucial support zone of 55000-54900, and a decisive close below this could trigger an immediate decline towards 54,400, where the next support lies.

* On the upside, resistance is placed at 55,800–56,000, which is expected to act as a strong hurdle.

Please refer disclaimer at https://www.religareonline.com/disclaimer

SEBI Registration number is INZ000174330