Nifty Flies Past Resistance, Eyes New Highs!
Nifty Futures Chart
Nifty has surpassed the swing high on the hourly chart, signaling an increase in optimism. Additionally, the consolidation observed in recent days has concluded with an upside breakout. The momentum indicator RSI is also suggesting a positive shift in momentum. The overall sentiment appears to position Nifty for a potential upward movement towards 22,500-22,600 in the short term. The immediate crucial support is situated at 22,000.
Top Gainers: Grasim Industries (up 2.99%), Bajaj Finserve (up 2.81%), Bajaj Auto (up 2.22%), Cipla (up 2.06%), ICICI Bank (up 2.00%)
– Top Losers: Coal India (down 3.96%), Larsen & Toubro (down 1.38%), Wipro (down 1.30%), SBI Life Insurance Company (down 1.30%), HDFC Life Insurance Company (down 1.22%)
Nifty Options CE Chart
Nifty Options PE Chart
Top Nifty Gainers
Top Nifty gainers were Grasim, Bajaj-Finserv, Bajaj-Auto, Cipla & ICICI Bank.
Top Nifty Losers
Top Nifty losers were Coal India, Larsen&Turbo, SBI Life, Wipro & HDFC Life.
Bank Nifty Takes Flight After Touching Down on Support!
Bank Nifty Futures Chart
Bank Nifty has resumed its uptrend after formation of a strong base above the 200-day EMA. We expect Bank Nifty to lead the next leg of the up move and head towards 47,500 in the coming weeks, where strong support is placed at 45,000.
Bank Nifty traded higher by almost 200 points at around 46,572 levels, with Bandhan Bank, ICICI Bank and AU leading the gains.
Bank Nifty Options CE Chart
Bank Nifty Options PE Chart
Top Bank Nifty Gainers
Top Bank Nifty Gainers were AU Bank, ICICI Bank, Bandhan Bank & SBI.
Top Bank Nifty Losers
Top Bank Nifty losers were HDFC Bank, Kotak Bank, Axis Bank, Indusind Bank & IDFCFirst Bank.
