Nifty Strengthens Upward Momentum: Breakout Signals Further Gains
Nifty Futures Chart
Nifty continues its upward momentum following a consolidation breakout on the daily chart. The trend remains robust as it has sustained itself both above the psychological level of 22000 and the 21EMA on the daily timeframe. On the higher end, it may move towards 22400/22600 once the index decisively surpasses the 22200 mark. Support on the lower end is identified at 22000.
The top gainers in the Nifty index were Power Grid Corporation Of India (up 4.18%), HDFC Bank (up 2.63%), Axis Bank (up 2.41%), NTPC (up 2.05%), and Kotak Mahindra Bank (up 1.80%). On the other hand, the top losers in the Nifty index were Hero Motocorp (down 3.90%), Coal India (down 3.15%), Bajaj Auto (down 2.52%), Eicher Motors (down 1.92%), and Tata Consultancy Services (down 1.78%).
Nifty Options CE Chart
Nifty Options PE Chart
Top Nifty Gainers
Top Nifty gainers were Power Grid, HDFC Bank, Axis Bank, NTPC & Kotak Bank.
Top Nifty Losers
Top Nifty losers were Heromotoco, Bajaj-auto, Eicher Motor, Coal India & TCS
BankNifty Technicals Flash Green: Dips Become Buying Opportunities, Rally Extends
Bank Nifty Futures Chart
BankNifty bulls maintained their dominance, closing above the 47000 level, signaling a strong buy mode. Immediate support is now established at 46700, marked by fresh put writing. The index is anticipated to reach the short-term target of 48000, with any dip viewed as a buying opportunity.
Bank Nifty Options CE Chart
Bank Nifty Options PE Chart
Top Bank Nifty Gainers
Top Bank Nifty Gainers were HDFC Bank, Axis Bank, Kotak Mahindra Bank, Indusind Bank & Bank of Baroda.
Top Bank Nifty Losers
Top Bank Nifty losers were AU Bank, IDFC First Bank, Bandhan Bank & Federal Bank.
