Daily Nifty Technical Outlook by Finvasia

Technically, CNX Nifty is in the consolidation phase with a contracting range. If the fifty share index will break on upside from here, we will see it taking immediate resistance at 6080 and above that at 6120. However, if the benchmark index will break the range on downside, it will face key support at 6020 and a breach below that will invite bears to take short positions and take nifty to 5960 and 5910 levels, respectively.

Source: Finvasia Research

Technically, CNX Nifty saw a bullish move yesterday and closed 0.76% higher at 6077.80. If the fifty share index further breaks on upside from here, we will see it taking immediate resistance at 6080 and above that at 6120. However, if the benchmark index breaks on downside, it will face key support at 6020 and a breach below that will invite bears to take short positions and take nifty to 5960 and 5910 levels, respectively.

Source: Finvasia Research

Nifty fifty breached the key psychological level of 6000 and closed lower at 5990.50. If nifty will continue with yesterday’s down-trend we will see it taking key support at 5960 level and a breach below that will lead it towards 5920-5910 range which is its 50 DMA as well. However if the benchmark index will bounce back we will see it taking immediate resistance at 6020 and above that at 6080.

Source: Finvasia Research

CNX Nifty continued the bearish trend but managed to close above the key mark of 5900. Going ahead, we see nifty taking strong support near 5850 levels as both 100 and 200 DMA are coinciding there. If nifty breaks below that, bears will push it towards 5820 levels. On upside, benchmark index has strong resistance at 5960 and any crossover above that will take the index towards 6020 levels.

Source: Finvasia Research

CNX Nifty continued the bearish trend on Friday and settled below the key mark of 5900. Going ahead, we will see nifty taking strong support near 5850 levels as both 100 and 200 DMA are coinciding there. If nifty breaks below that, bears will push it towards 5820 levels. On upside, benchmark index has strong resistance at 5960 and any crossover above that will take the index towards 6020 levels.

Source: Finvasia Research

Technically, CNX Nifty continued to remain in the hands of bears and closed below its 200 DMA yesterday at 5831.65. Further, if the weakness will persist we may see nifty taking immediate support at 5750 and breaking below that will take the benchmark index towards 5720 levels. On the upside nifty has key resistance at 5860 and above that it has a resistance 5920 levels.

Source: Finvasia Research

CNX Nifty extended the bear trend and closed lower than key psychological level of 5800 at 5755.05. Nifty may take immediate support at 5720 and below that at 5680 if the bearish trend will continue. However if nifty bounces back from here, it can take immediate resistance at 5820 and above that at 5860.

Source: Finvasia Research

CNX Nifty ended the volatile session flat at 5742. Going ahead, we will see nifty taking strong support near 5720 levels. If nifty breaks below that, bears will push it towards 5680 levels. On upside, benchmark index has strong resistance at 5820 and any crossover above that will take the index towards 5860 levels.

Source:Finvasia Research

CNX Nifty ended the choppy trading session at 5727.85. Nifty may take immediate support at 5720 and below that at 5680 if the bearish trend will continue. However if nifty bounces back from here, it can take immediate resistance above 5800 at 5820 and any breakout above that will lead the benchmark index to kiss 5860 levels.

Source: Finvasia Research