Dear Followers, Due to some technical errors we are not publishing a detailed weekly overview of the Equity Market. We will try to publish the same from next week onwards.
Till the time we are publishing Nifty and Bank Nifty’s weekly as well as intraday (Monday) major support and resistance levels.
Weekly Support and Resistance (Spot Levels)
The short-term support for the Nifty 50 is around 16150. A sustainable move below this will see more selling pressure towards the downside that can take breadth around 16000 levels. And if it further breaks that level then a major selling will come towards 15800 levels.
On the upside, the resistance is around the 16300—16400 level. Breakout from that level will take the index towards 16700 and then to the 17100 in the coming days.
Nifty Futures Strategy For Monday
Nifty Future has resistance at 16300 if breaks and sustains above that level, then it will take it to 16380-16460.
Support at 16150 breaks and sustain below that level will take it towards 16050–15940.
Weekly Support and Resistance (Spot levels)
The short-term support for the Bank Nifty is 34300. If it breaks that level, then it could take the markets down towards 33800—33000.
On the upside, the resistance is at 34800—35000. A sustainable breakout from that level will lead to a fresh upside level in the coming days.
Bank Nifty Futures Strategy For Monday
Bank Nifty Future has resistance at 35550 if breaks and sustain above that level then it will take it to 35730–35900 levels.
Support at 35200 breaks and sustain below that level then it will take it to 35000—34800 levels.
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