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NIFTY / SENSEX

Nifty, once again after witnessing a volatile session during the day, found resistance near the 24600 zone and settled near the 24350 level to end on a flat note, and with the overall bias maintained with a cautiously positive approach, we need to wait and watch for further developments. The index, as mentioned earlier, would need to breach and close above the 24400 zone decisively, having the near-term support near the important 200-period MA at the 24050 level, which needs to be sustained as of now to maintain the overall trend intact. Sensex witnessed consolidation near the 80500 zone with slight fluctuations witnessed with an overall positive bias, having support near the 200 DMA level at the 79100 zone, and once a decisive breach above the 81000 zone is confirmed, it can trigger the next targets of 82200 and 83000 levels in the coming days with the undertone much better placed than before. The support for the day is seen at 24200 levels, while the resistance is seen at 24600 levels

BANKNIFTY / BANKEX

Bank Nifty, after opening on a positive note, found resistance near the 55700 zone, and with some fluctuations witnessed during the trading session, closed near the 55100 zone once again with the overall trend still maintained intact, having the important near-term support at the 54500 zone, which needs to be sustained. As mentioned earlier, the index would need a decisive breach above 55700, which, when confirmed, can expect another fresh round of momentum in the coming days. Bankex witnessed a gradual slide during the intraday session to end near the 62700 zone with the near-term support maintained near the important 20-period MA at the 60850 zone and with the overall bias maintained intact. Bank Nifty would have the daily range of 54600-55700 levels.

Nifty / BankNifty / Sensex / Bankex - Daily Technical Levels

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