Nifty closes in green amid a volatile session; Metals shine; Bank and realty drags market; Tata steel top gainer

Nifty closed in green after a volatile session for fifth consecutive day. Bank Nifty plunges by 0.67%. 

Nifty

Nifty should break today's day high (18272) for the upward momentum to continue, once Nifty starts trading above it, Nifty can go till 17342-17375. Nifty has a support in the range of 18150-18200. Trading below support level indicates it can fall till 18080-18000. 

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Bank Nifty

Bank Nifty has a support at 38300 and resistance at 38600. Trading below 38300 can lead to a fall till 38000. But if it opens above 38550 then it can sustain in that case 38300 will act as support and 38900 will act as resistance. 

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Stocks to watch out

1. Reliance (LTP 2535.30)

Reliance cleared a resistance at 2500 and a closing above it indicates that the upward momentum can continue till 2600. There is a support at 2500. 

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2. L&T (LTP 2018.40)

A close above 2000 with heavy volume indicates buying to continue. With resistance at 2060-2100 and support at 1980, L&T looks good bet for short term. 

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Disclaimer

All the information is from source deemed to be reliable but there is no guarantee to the accuracy. Information is for EDUCATIONAL PURPOSES ONLY and is not intended to give specific trading or investment advice. past performance is no guarantee of future performance. Investment/ trading carries significant risk of loss and you should consult your financial professional before trading or investing. Opinions are given based on widely-accepted methods of technical analysis other methods of analysis. No specific recommendation is given to buy, hold or sell of these markets/securities or exchange traded funds related to these markets.

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