Technical Daily Morning Report by Prabhudas Lilladhar Ltd
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Forecast
NIFTY
Nifty index gaining strength by recording the all-time high level to breach above the previous peak and moving past the 22000 zone decisively has overall strengthen the bias to anticipate for further rise having targets of 22400 and 22800 levels in coming days with near-term support maintained at 22000 zone. The support for the day is seen at 22100, while the resistance is seen at 22300.
BANKNIFTY
Banknifty has been quite underperforming as compared to Nifty index and would need a decisive breach above 47400 zone to establish a conviction for further upward move for next targets of 48650 and 49750 levels in the coming days. BankNifty would have a daily range of 46300–47300 levels.
Stock Ideas with Trend Reversal
Positive : - AMARAJA BATT, BALKRISH IND, BSE, CHOLAFIN, DR REDDY, HAL, IBREALEST, IEX, INTELLECT, IRCTC, JSW ENERGY, LTTS
Negative :- ASIAN PAINT, BANK BARODA, BHARTI AIRTEL, DCB BANK, DEEPAK NTR, INDUSIND BANK, KANSAI NEROLAC, KSCL, OIL, RAIN, SRF, UPL
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Tag News
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