Daily Nifty Technical Outlook by Finvasia

Nifty fifty yesterday saw a relief rally and recovered more than 100 points. The fifty share index closed the volatile session 2% up at 5448.10. Going ahead, if nifty continues the rally, it will take immediate and major resistance at 5480. If it breaks above that and sustains, we will see it taking further resistance at 5560. On the downside, nifty has a strong support at 5350 and below that at 5250.

- Source: Finvasia Research

Nifty ended the yesterday’s session in positive terrain after a gap up opening. The fifty share index breached 5600 level but could not sustain above that and closed just below that at 5592.95 being 2.66% down. If Nifty continues the bull trend we will see it taking immediate resistance at 5610. If nifty marches above that, we will see it going towards 5680 mark. However, if the bears will take over, we will see nifty retreating from here and taking immediate support at 5560. If it breaches below that, we will see it moving towards 5480 mark.

- Source: Finvasia Research

Nifty fifty extended the uptrend on Friday as bulls continued to rule the market. The fifty share index closed the volatile session 1.56% up at 5680.40. Going ahead, if nifty continues the rally, it will take immediate and major resistance at 5760. If it breaks above that and sustains, we will see it taking further resistance at 5840. However, if nifty corrects from here, we will see it taking key support at 5610 and below that at 5560.

- Source: Finvasia Research

Nifty fifty witnessed a bull trend yesterday and closed broadly higher at 5896.75 being 216.35 points up from the previous close. If nifty corrects from here, we will see it taking immediate support in 5834 to 5813 range as these are its 200 and 100 DMA, respectively. If nifty breaches below that and sustains, we will see it taking further support at 5760. On the upside, if nifty extends the gains, 5960 will act as important resistance. If the fifty share index breaks that decisively, we will see it marching towards 6020 mark.

Source: Finvasia Research

CNX Nifty took respite yesterday and witnessed a volatile trading session. The markets ended on a flattish positive note with fifty share index closing 0.28% up at 5913.15. If nifty continues to rally further, we will see it taking immediate resistance at 5960 and any crossover above that will take it towards 6020. On the downside, we will see nifty taking immediate and important support at its 200 DMA which is at 5836. If it breaches this level decisively, it will move towards 5760 level.

Source: Finvasia Research

Nifty fifty snapped its winning streak of five days and retreated in yesterday’s session. The fifty share index lost 1.06% and closed above its 200 and 100 DMA at 5850.70. Nifty has a strong support region between 5835 and 5815. If it decisively breaks below that, we will see it taking further support at 5760 level. However, if nifty rebounds from here, we will see it taking immediate resistance at 5890 and if nifty marches above that, we will see it heading towards the major resistance level of 5960.

Source: Finvasia Research

Nifty fifty ended the volatile trading session flat on Friday and closed at 5850.60. If nifty rallies from here, we will see the benchmark index testing immediate resistance at 5960. If it breaks above that and sustains, we will see it heading towards 6020 mark. However, if nifty retreats from here, nifty will take immediate support at 5830 and below that at 5760.

Source: Finvasia Research

Nifty erased its intraday gains and slipped in red to test 5800 level. The volatile session of Monday ended 17 basis points lower at 5840.55 which is its 200 DMA as well. If nifty extends the losses, we will see it taking strong support at 5800 and below that at 5750 mark. On the upside, nifty will face immediate resistance at 5888 and if it crosses above that and sustains, 5960 will act as strong resistance mark.

Source: Finvasia Research

CNX Nifty ended the lackluster session of yesterday at 5850.20 being 0.18% up. On the upside, nifty has immediate resistance at 5888 and crucial support at 5800. If nifty breaches below 5800 we will see it taking next support at 5750 mark. If nifty crosses above 5888 mark and sustains, we will see it marching towards important resistance of 5960.

Source: Finvasia Research