Daily Nifty Technical Outlook by Finvasia

Nifty fifty languished and closed 0.96% lower at 5811.55 in yesterday's session. If Nifty rebounds from here, we will see it testing the immediate resistance in 5830-5840 range and if the uptrend continues, we will see the benchmark index testing 5890 levels. On the downside, 5760 and 5700 will act as the respective support levels.

Source: Finvasia Research

Yesterday, CNX Nifty edged higher and closed at 5859. If the benchmark index follows the uptrend we will see it taking immediate resistance at 5890 and any crossover above that will take nifty towards the 5960 levels. On the downside nifty has strong support at 5840 and busting below that decisively will take nifty to 5760 levels.

Source: Finvasia Research

CNX Nifty in yesterday’s session languished and closed 0.72% lower at 5816.70 . Nifty can take immediate support at 5790 and if equity markets extend losses, we will see the NSE index testing 5700 levels on the downside. However, on the upside Nifty has the major resistance at 5860 any further break on the upside can take it to 5920 and 5960 levels, respectively.

Source: Finvasia Research

NSE Nifty in yesterday’s session closed above the key levels of 5900 at 5935.10. Nifty can take immediate support at 5850 and if the equity markets extend losses, we will see the NSE index testing 5760 levels on the downside. However on the upside, Nifty has the major resistance at 5960 and any further break on the upside can take it to 6020 levels.

Source: Finvasia Research

NSE Nifty in Friday session rallied and closed 1.25% up at 6009. Nifty can take immediate support at 5960 and if the equity markets extend losses, we will see the NSE index testing 5920 levels on the downside. However, on the upside Nifty has the major resistance at 6020 and any further break on the upside can take it to 6080 levels.

Source: Finvasia Research

NSE Nifty in Monday session rallied and closed 0.3% up at 6030.8. Nifty can take immediate support at 5915 and if the equity markets extend losses, we will see the NSE index testing 5890 levels on the downside. However, on the upside Nifty has major resistance at 5960 and any further break on the upside can take it to 6080 levels.

Source: Finvasia Research

Indian markets ended yesterday’s session on a negative note with nifty fifty closing 1.25% lower at 5955.25. The positive sentiments may take nifty towards 6000 levels where it may face immediate resistance at 6020 and going above that will lead it face resistance at 6080. If stock markets decline further, we will see fifty share index facing immediate support at 5920 and a breach below that will take the index to 5890 levels.

Source: Finvasia Research

NSE Nifty closed marginally higher yesterday at 5973.30. The weakness in equity markets may lead fifty share index to test the immediate support at 5910 level which is its 50 DMA as well. Any decisive breakdown from this level may take nifty in 5880-5890 range. On the other side, optimism in markets may lead benchmark index to test the resistance at 6020 and any crossover above that will take it towards 6080 levels.

Source: Finvasia Research

Nifty fifty rallied yesterday to close at 6038.30. The weakness in equity markets may lead fifty share index to test the immediate support at 6020 and a breach below that will take it to 5910 level, which is its 50 DMA as well. Any decisive breakdown from this level may take nifty in 5880-5890 range. On the other side, optimism in markets may lead benchmark index to test the resistance at 6080 and any crossover above that will take it towards 6120 levels.

Source: Finvasia Research