Market Outlook for 31 October 2024
Market Outlook for 04 June 2024
Last Updated: 3rd June 2024 - 05:20 pm
Our markets gave a thumbs up to the exit polls and Nifty started the week at a new record high with a significant gap up. The benchmark rallied higher along with the broader markets and Nifty ended the day above 23300 with gains of over three percent.
Nifty rallied higher along with the broader markets as the exit polls hinted at continuation of the existing government with significant margins. The PSU stocks witnessed renewed buying interest, which were the outperformers and Nifty/Sensex posted new record highs. The index ended well above the previous hurdle of 23100-23000 which hints at a continuation of the uptrend. The actual results will be declared on Tuesday, and if all goes well then we could see a continuation of the momentum on the higher side. The previous hurdle of 23100-23000 will be seen as the immediate support now, while on the higher side retracements of previous moves hints at possible targets around 23700 followed by 24000-24200. Hence, traders are advised to continue trade in the direction of the primary trend with a positive bias.
Market gives a thumbs up to exit polls
Nifty, Bank Nifty Levels and FINNIFTY Levels:
NIFTY Levels | SENSEX Levels | BANKNIFTY Levels | FINNIFTY Levels | |
Support 1 | 23130 | 75850 | 50430 | 22350 |
Support 2 | 22950 | 75230 | 49800 | 22100 |
Resistance 1 | 23510 | 76900 | 51450 | 22750 |
Resistance 2 | 23700 | 77350 | 51800 | 22900 |
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