Nifty Breakout Signals Potential Upward Trend
Nifty Futures Chart
Nifty opened gap up and continued to inch higher throughout the day to close with gains of 356 points. On the daily charts we can observe that the Nifty has broken out of a Running Triangle pattern indicating start of a fresh leg of upmove. The daily Bollinger bands have begun to expand and with prices trading along the upper band indicates that there could be sharp trending moves on the upside. We expect Nifty to target levels of 23000 – 23100 from short term perspective. On the downside the zone of 21900 – 21860 shall now act as a crucial support zone and a breach below it shall lead to a trend reversal.
Nifty Options CE Chart
Nifty Options PE Chart
Top Nifty Gainers
Top Nifty gainers were Tata Steel, L&T, JSW Steel, Titan & Indusind Bank.
Top Nifty Losers
Top Nifty losers were Dr.Ready, Infosys, HCL Tech, Sun Pharma & Britannia.
Bank Nifty Surges, Poised for Record Highs – Bulls in Control
Bank Nifty Futures Chart
Bank Nifty bulls maintained their dominance, leading the index to overcome significant hurdles with notable volumes. The current support for the index is established in the range of 47000-46900, and any pullback towards this support zone is seen as a favorable buying opportunity. There is a strong indication that the index is poised to surpass its all-time high levels, situated at the 48500 mark, in the near term.
Bank Nifty Options CE Chart
Bank Nifty Options PE Chart
Top Bank Nifty Gainers
Top Bank Nifty Gainers were Indusind Bank, ICICI Bank, SBI, PNB & Kotak Bank.
