Nifty Technical Analysis: Sideways Trading Persists, Key Support and Resistance Levels
Nifty Futures Chart
Nifty started flat and remained sideways during the trading session. It found support at the 20DMA for the second day in a row. The trend could weaken if it decisively drops below 21,690. A decisive fall below 21690 may trigger a correction towards 21,500. On the contrary, if it moves above 21,800, we might observe a recovery in the near term.
Shares of Grasim Industries Ltd (up 5.92%), State Bank of India (up 3.70%), Apollo Hospitals Enterprise Ltd (up 3.25%), Sun Pharmaceutical Industries Ltd (up 2.80%), and ICICI Bank Ltd (up 2.19%) ended as top gainers.
On the other side, Mahindra & Mahindra Ltd (down 2.46%), Bharti Airtel Ltd (down 1.94%), NTPC Ltd (down 1.87%), Oil and Natural Gas Corporation Ltd (down 1.85%), and Tata Steel Ltd (down 1.64%) were among the laggards.
Nifty Options CE Chart
Nifty Options PE Chart
Top Nifty Gainers
Top Nifty gainers were Grasim Industries, State Bank of India , Apollo Hospitals, Sun Pharmaceutical Industries, ICICI Bank.
Top Nifty Losers
Top Nifty losers were Mahindra & Mahindra, Oil and Natural Gas Corporation, Bharti Airtel, NTPC and Hindalco Industries
Bank Nifty Bull Run: Crucial Support Held, Watch for Upside Breakout
Bank Nifty Futures Chart
Bank Nifty bulls exhibited strength as they successfully defended the crucial support level of 45000, establishing it as a critical support zone. The index is currently in a “buy on dip” mode, and as long as the mentioned support holds on a closing basis, the bullish sentiment remains intact. Looking ahead, the immediate resistance on the upside is situated at 46000, and a decisive break above this level is anticipated to trigger further short-covering moves in the market.
Biggest losers on the BankNifty were Punjab National Bank, while gainers were Bank of Baroda, State Bank of India, ICICI Bank, AU Small Finance Bank and Axis Bank.
Bank Nifty Options CE Chart
Bank Nifty Options PE Chart
Top Bank Nifty Gainers
Top Bank Nifty gainers were Bank of Baroda, State Bank of India, ICICI Bank, AU Small Finance Bank and Axis Bank.
Top Bank Nifty losers
Top Bank Nifty losers were Punjab National Bank
