Support Below, Resistance Above: Nifty Awaits Breakout
Nifty Futures Chart
Nifty witnessed an extremely volatile day of trade today. Intraday it witnessed a swing of 200 points though managed to close marginally in the green up 3 points. On the daily charts we can observe that the Nifty is rangebound between 22200 – 22600 since past seven trading sessions. On the downside multiple support parameters in the form of the 20-day moving average (22199) and the previous swing low (22224) are likely to absorb the selling pressure and provide cushion in case of a decline. On the upside, 22500 – 22550 shall act as an immediate hurdle.
Nifty Options CE Chart
Nifty Options PE Chart
Top Nifty Gainers
Top Nifty gainers were HDFC Bank, LTIM, TCS, Maruti & Infosys.
Top Nifty Losers
Top Nifty losers were Adani Enterprises, Grasim, Cipla, Adani Ports & SBI.
Bank Nifty: Will Bulls Bounce Back or Breach 47000?
Bank Nifty Futures Chart
Bank Nifty has tested the 20-day moving average (46900) and witnessed a decent pullback to close in the off the intraday lows though on a negative note down 45 points. Crucial support for Bank Nifty is placed at 47000 – 46900 while resistance is placed in the zone 47820 – 48000.
Bank Nifty Options CE Chart
Bank Nifty Options PE Chart
Top Bank Nifty Gainers
Top Bank Nifty Gainers were HDFC Bank.
Top Bank Nifty Losers
Top Bank Nifty losers were ICICI Bank, Kotak Bank, Indusind Bank, Axis Bank & IDFC First Bank.
