Comments
Nifty has risen breaking above the resistance level of 24,850 as expected last week. After the initial rise, Nifty was bought every time it dipped below 25,000 last week. That indicates the presence of strong buyers at lower levels. That keeps intact our bullish view. Nifty50 is looking strong on the charts. We can see more rise going forward.
Nifty has #support at 24,900. nifty 50 can rise to 25,600-25,700 first. Thereafter a corrective fall to 25,200 is a possibility. After this corrective fall, Nifty can see a fresh rally targeting 26,200 on the upside in the coming weeks.
Bank Nifty has an immediate resistance at 51,600. A break above it can take the nifty bank index up to 52,200 and 52,500.
Support for nifty bank is at 50,900. The index will come under pressure for a fall to 50,000 if it breaks below this support
-----
BL Portfolio: https://www.thehindubusinessline.com/portfolio/
Write to the following email ids for any queries on
1) Futures & Options (F&O) : derivatives@thehindu.co.in
2) Technical outlook on the specific stocks: techtrail@thehindu.co.in
3) Mutual Funds: mf@thehindu.co.in
4) Investments, Personal finance: blportfolio@thehindu.co.in
------
SOCIAL MEDIA HANDLES
Facebook - Blportfolio
https://www.facebook.com/profile.php?id=100086211032670
LinkedIn - BL Portfolio
https://www.linkedin.com/in/bl-portfolio-314bb2220
Twitter - @BlPortfolio
https://twitter.com/BlPortfolio?t=B3zkMfwKIMuoHWBWJfoZ3w&s=09
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.