The Index can long above 25300 for the potential target of 25400 with stop loss of 25230 level - GEPL Capital Ltd
Market News:
* TVS Motor Company, in collaboration with lifestyle brand Noise, has introduced smartwatch integration for its electric two-wheeler, the TVS iQube.
* Tata Consultancy Services (TCS) has partnered with Qualcomm to develop AI-driven smart and sustainable solutions across industries.
* Johnson Controls’ board has approved renaming the company to Bosch Home Comfort India.
Technical Summary:
The index opened on a positive note but remained rangebound throughout the day, hovering near the 25,300 mark. On the daily scale, the index confirmed its breakout above the prior swing top of 25,150 achieved in the previous session, with today’s follow-up closing reinforcing the prevailing positive sentiment. On the sectoral front, PSU Banks and Defence stocks led the gains, while Metals and Consumer Durables ended as the top losers of the day
Levels to watch:
The Nifty has its crucial resistance 25400 (Pivot Level) and 25500 (Key Resistance). While support on the downside is placed at 25200 (Pivot Level) and 25100 (Key Support).
What should short term traders expect?
The Index can long above 25300 for the potential target of 25400 with stop loss of 25230 level.
Technical Data Points
NIFTY SPOT: 25330 (+0.36%)
TRADING ZONE:
Resistance: 25400 (Pivot Level) and 25500 (Key Resistance)
Support: 25200 (Pivot Level) and 25100 (Key Support).
STRATEGY: Bullish till above 25100 (Key Support).
BANK NIFTY SPOT: 55493 (+0.63%)
TRADING ZONE:
Resistance: 55800 (Pivot Level) / 56300 (Key Resistance)
Support: 55000 (Pivot Level) / 54700 (Key Support)
STRATEGY: Bullish till above 55000 (Pivot Level)
SEBI Registration number is INH000000081.
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