Market Outlook for 31 October 2024
Nifty Outlook for 28 June 2023
Last Updated: 28th June 2023 - 10:46 am
Nifty started the day on a higher note and traded with a positive bias throughout the day. The market breadth continued to be robust while the banking index witnessed a positive move towards the end of the session. Nifty ended the day above 18800 with gains of seven-tenths of a percent.
Nifty Today:
In last few sessions, the Nifty and the Nifty Midcap index have given a pullback move from the swing highs. However, the market breadth has been positive indicating continuation of stock specific buying interest by market participants. The 20 DEMA acted as a support in both the above indices and it seems to have resumed the upmove. The Bank Nifty index has seen a time-wise correction throughout the month so far and has given signs of breakout and a resumption of the uptrend. The banking index closed above 44000-44100 resistance and the RSI oscillator has also given a positive crossover on the daily chart.
Bank Nifty resumes uptrend post recent consolidation
Hence, traders are advised to trade with a positive bias in the direction of the trend with a stoploss below the 20 DEMA on Nifty.
Nifty, Bank Nifty Levels and FINNIFTY Levels:
|
Nifty Levels |
Bank Nifty Levels |
FINNIFTY Levels |
Support 1 |
18740 |
43800 |
19625 |
Support 2 |
18670 |
43700 |
19500 |
Resistance 1 |
18900 |
44400 |
19900 |
Resistance 2 |
18970 |
44500 |
19970 |
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