NIFTY Levels:
NIFTY (Spot): 9490
SUPPORT 1: 9330
SUPPORT 2: 9180
RESISTANCE 1: 9585
RESISTANCE 2: 9730
Conditions Apply
BANK NIFTY Levels:
BANK NIFTY (Spot): 19170
SUPPORT 1: 18500
SUPPORT 2: 18150
RESISTANCE 1: 19500
RESISTANCE 2: 20000
Conditions Apply
[29/05, 8:43 AM] Neeraj Kavi: In the last expiry, NSE-NIFTY failed to continue prior rising trend amidst weakness across realty, finance and banking sectors (those sector indices reported fall between 8% and 15%). However due to short covering in the last two trading sessions, NIFTY recovered partial damages quite swiftly and reported loss of 3.75% at end of the expiry. The index rose to 18-days closing high continuing prior daily up-trend. Due to such a sharp up-move NIFTY is trading quite close its near-term hurdle point-9,600 mark. Though major parameters are in favour of bulls, its oscillator has tested overbought zone. Hence, near-term consolidation cannot be ruled out. On the lower side, its short-term moving average will work as support point for the index, which is placed at 9,178 level. However a stable move above 9,600 mark will strength the index for its next leg of up-move. In case of break out, NIFTY will climb 9,900 and then 10,000 levels.
As for the day, support is placed at around 9,330 and then at 9,180 levels, while resistance is observed at 9,585 and then at 9,730 levels.