Nifty: Bullish Charge Pauses for Breath, Eyes Rangebound Correction
Nifty Futures Chart
Nifty has been fluctuating within an ascending channel, displaying a pattern of higher highs and higher lows. The overall trend continues to be bullish, although there is currently an intermediate corrective phase in progress. In the short term, Nifty could experience weakness, possibly leading to a decline toward the range of 22200-22250. Looking at the upside, immediate resistance is identified at 22400 based on closing prices.
Nifty Options CE Chart
Nifty Options PE Chart
Top Nifty Gainers
Top Nifty gainers were Apollo Hospital, Nestle India, SBI Life, Cipla & Dr.Ready.
Top Nifty Losers
Top Nifty losers were Tata Consum, Power Grid, Baja – Auto, Tata Steel & SBIN.
Bank Nifty: Support Tested, Uptrend Awaits Breakout
Bank Nifty Futures Chart
Bank Nifty index encountered strong resistance from bears at higher levels, prompting a downside move. Immediate support for the index is at 47000-46800 levels, and a decisive close below this range could intensify selling pressure. To resume the uptrend towards all-time high levels, the index must decisively surpass the mark of 47700.
Bank Nifty Options CE Chart
Bank Nifty Options PE Chart
Top Bank Nifty Gainers
Top Bank Nifty Gainers were AU Bank.
Top Bank Nifty Losers
Top Bank Nifty losers were IDFC First Bank, Axis Bank, Federal Bank, ICICI Bank & PNB.
