Resistance: 24400 (Pivot Level) and 24500 (Key Resistance) by GEPL Capital Ltd
Market News:
* S H Kelkar Expects FY27 Revenue To Exceed Rs 2,500 Crore.
* M&M Plans Common Leadership For SML Mahindra, Truck and Bus Arm.
* BHEL Secures Largest-Ever Gas Turbine Order from Nigeria’s Dangote Group.
Technical Summary:
The index opened on a gap-up note above the 100-DEMA and maintained a gradual upward trajectory throughout the session, touching an intraday high of 24,283. The sustained move above the 100-DEMA reflects improving near-term sentiment. On the sectoral front, IT and Metal emerged as the top gainers, while Realty and the CPSE Index ended the session as the top laggards.
Levels to watch:
The Nifty has its crucial resistance 24400 (Pivot Level) and 24500 (Key Resistance). While support on the downside is placed at 24150 (Multiple Touches) and 23900 (Key Support).
What should short term traders expect?
The Index Can Long above 24300 for the potential target of 24400 the stop loss of 24230 level.
Technical Data Points NIFTY SPOT:
24241 (1.07%)
TRADING ZONE: Resistance:
24400 (Pivot Level) and 24500 (Key Resistance)
Support: 24150 (Multiple Touches) and 23900 (Key Support).
STRATEGY: Bullish till above 23900 (Key Support).
BANK NIFTY SPOT:
57186 (0.76%)
TRADING ZONE:
Resistance: 57500 (Pivot Level) and 58000 (Key Resistance)
Support: 56500 (Pivot Level) and 56000 (Key Support).
STRATEGY: Bullish till above 56000 (Key Support).
SEBI Registration number is INH000000081.
Please refer disclaimer at https://geplcapital.com/term-disclaimerg
