Where is share market headed after Nifty closes above 19350, Bank Nifty below 44870; check support, resistance
时间:2024-06-26 09:30:54 阅读(143)
Benchmark indices ended Monday’s session mildly in green. The NSE Nifty 50 advanced 24.10 points or 0.12% to 19,355.90 and BSE Sensex rose 63.72 points or 0.10% to 65,344.17. In sectoral indices, Bank Nifty fell 64.15 points or 0.14% to 44,860.85, Nifty Auto tumbled 0.62%, Nifty IT plunged 1.24%, Nifty PSU Bank decreased 0.57% while Nifty Metal jumped 1.69% and Nifty Oil & Gas rose 0.59%. The top gainers on Nifty 50 were Reliance Industries Ltd (RIL), Tata Steel, JSW Steel, Bharti Airtel and HDFC Life while the losers were HCL Tech, Titan, Power Grid, TCS and Hindustan Unilever Ltd.
“Indian equities faced broad-based weakness, but the benchmark managed to stay marginally positive with the support of strong buying in heavyweight stocks. The weakness was led by IT stocks, as the sector is set to kick off the Q1 result season with expectations of soft earnings. Additionally, cues from the US markets are unfavourable, as concerns about another rate hike persist despite expectations of a fast cooling of future US CPI inflation data,” said Vinod Nair, Head of Research at Geojit Financial Services.
“Bank Nifty continued to trade with a negative bias. It witnessed follow-through selling pressure and filled the gap area between 44800–44900 created on the 3rd of July, 2023. The Bank Nifty is in the process of retracing the rise it witnessed in the last couple of weeks and there are multiple supports in the form of Fibonacci retracement levels around 44840 – 44587 which could arrest the downside. The correction is providing an opportunity for an entry and this is a dip that should be bought into,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.
猜你喜欢
- Zomato share price rallies 13%, tops Rs 50 as Q1 net loss halves; should you buy, sell or hold-
- Can gold yield Diwali delights for investors-
- Zomato, Marico, Lupin, Indian Bank, Dr Reddy’s Labs among 129 stocks that hit 52-week highs; 9 touch 52-week lows
- Wipro rating – Buy- Broad-based growth across segments
- Cipla, Bajaj Auto, Dalmia Bharat, Tata Consumer Products, Welspun stocks in focus
- Share Market Highlights- Nifty settles above 18000, Sensex gains 240 pts; Bank Nifty rises 80 pts, IT ends over 1% up
- SGX Nifty up, upbeat global cues, Q4 results, Nifty technical view; key things to watch out for on 27 May
- e 39,500. “Support placed at 17900 and 39,200.” Meanwhile, Nagaraj Shetti believes that any lack of strength around 17900-18000 levels in the next 1-2 sessions could pull Nifty below the resistance area in the short term. “On the other side, a decisive move above 18K mark is likely to pull Nifty towards the next upside target of 18600 levels in the near term. Immediate support is placed at 17760 levels,” he said.
Also Read: Zerodha’s Nikhil Kamath tells when to buy stocks, shares Buffett formula to find the right time
FII and DII trades: Foreign Institutional Investors (FII) have been net buyers of domestic stocks for successive days now. On Wednesday, FIIs pumped in Rs 2,347 crore. Domestic Institutional Investors (DII) have been net sellers, pulling out Rs 510 crore yesterday.
IPO watch: Syrma SGS Technology enters the final day of bidding today. So far the issue, that opened last week, has been subscribed 2.27 times. Retail investors have subscribed their portion 2.66 times while NIIs have bid for their quota 3.58 times and QIB portion has been bid for 0.71 times.
- Year-ahead -Top realtors expect 10-15% jump in home sales