Daily Nifty Technical Outlook by Finvasia

CNX Nifty continued to correct in yesterday’s session and broke the key support level of 6230. The fifty share index slowly drifted lower and ended above 6200 mark at 6215 being 0.61% lower. Going ahead, if nifty continues to march towards South; we will see it taking first support at 6150 and below that at 6080. If nifty breaches below 6080 level, we will see bears participating actively in the markets. However, if nifty bounces back from here, we will see it taking key resistance at 6300 and above that at its all time high of 6357

Source: Finvasia Research

CNX Nifty yesterday resembled the roller coaster ride with sharp market movement and wild swings. The fifty share index breached below 6200 mark and ended the session 0.45% lower at 6187.25. If nifty continues to extend the losses, we will see it testing the key support at 6080. If it breaches this level decisively, the next support will be at 5960. However, if nifty bounces back from here, the immediate and important resistance will be at 6230 and above that at 6300.

Source: Finvasia Research

CNX Nifty slowly drifted lower on Friday and witnessed volatile trading session. The fifty share index ended the previous trading session 0.75% lower at 6140.75. If nifty continues to correct, we will see the benchmark index taking immediate support at 6080 and below that at 5960. However, if nifty bounces back from here and follows the journey towards north, we will see it taking very strong resistance at 6230 and above that at 6300.

Source: Finvasia Research

CNX Nifty witnessed a weak trading session yesterday and breached below 6100 mark decisively. The benchmark index closed previous session below the key support level of 6080 at 6078.80 being 1.01% lower. If nifty extends the downtrend, we will see it taking immediate support in 6050 to 6030 range and below that at 5960. If nifty bounces back from here, the immediate resistance will be at 6230 and any crossover above that will take it to 6300 mark.

Source: Finvasia Research

CNX Nifty ended the volatile trading session on a negative note as inherent weakness led markets to drop in the noon session. Nifty yesterday closed the session below the support level of 6030 at 6018 being 1% down. If nifty continues declining today, we will see it taking immediate support at 5960 and below that at 5860 which is its 200 DMA as well. If nifty bounces back from here, we will see it taking resistance at 6080 and above that at 6150.

Source: Finvasia Research

Yesterday, nifty witnessed a choppy trading session initially and further plunged to close the seventh straight session lower at 5989.60 being 0.47% lower. If nifty bounces back from here, we will see nifty testing immediate resistance at 6080 and above that at 6150. However, if nifty extends the losses from here, nifty will see immediate and near term support at 5960. If nifty breaches this level decisively, it will march towards 200 DMA and crucial support level of 5860.

Source: Finvasia Research

CNX Nifty opened with a gap up on Thursday and traded in a range which broke towards downside in the noon session but benchmark index ended in positive terrain at 6056.15 being 1.11% higher. If nifty extends the uptrend from here, we will see it taking immediate resistance at 6150 and above that at 6230. If nifty retreats from here we will see it taking immediate support at 5960. Further, if nifty continues to retreat, the next support will be at 200 DMA i.e. 5860.


Source: Finvasia Research

CNX Nifty witnessed a gap up opening yesterday and whooped further to close 132 points or 2.19% higher at 6189. If nifty extends the rally from here and manages to surpass 6200 mark, we may see it taking first immediate resistance at 6230. Further, if it breaches above that decisively, the next resistance is at 6300. On downside, nifty has a very strong support at 6080 and of it breaks that, we will see it marching towards 5960 mark which is a crucial support level.

Source: Finvasia Research

CNX Nifty witnessed a range bound session in positive terrain and ended 0.23%higher at 6203.35. The fifty share index flirted with 6200 mark for nearly whole of the session in a quiet trading day. If nifty breaks this range on upside, we will see it taking immediate resistance at 6230 and if it breaks that and sustains above that, the next resistance will be at 6300. However, if the range will burst on lower side, 6080 will act as immediate important support. If it breaks this level, the next support will be at 5960.

Source: Finvasia Research