Nifty Tips
Nifty Weekly Outlook-
Last week the Nifty Index ended with gains of 2.80% at 5458.95. On the derivatives front we have seen that the Nifty Futures prices slipped along with an overall addition of open interest and decline in the cost of carry, this is an indication of some shorts being built in it at higher levels. For the coming week, Resistance for Nifty is seen at 5600/5750 whereas on the downside immediate Support for the Index is seen at 5400-5367 levels, below these levels the next support is seen at 5340/5277 levels.
Bank Nifty Weekly Outlook -
Last week the Bank Nifty Index showed a smart pullback from its 10000 levels and ended with gains of 4.80% at 10949.70. On the derivatives front we have seen that the Bank Nifty Futures prices have ended with gains along with an overall addition of open interest and decline in the cost of carry, this is an indication of some shorts being built at higher levels. For the coming week, immediate Resistance for Bank Nifty is seen at 11257 levels, above this level the next resistance is seen at 11547/11890 whereas on the downside support for the Index is seen near 10373 levels.
Posted in: 
0 comments:
Post a Comment