Indian market was up around 1.5%, IT, Banks except HDFCBANK & Metal performed well. FMCG, M&M and DRREDDY were losers.
Indices closed at recent high and above critical resistance level. IT stocks witness sharp bounce on back of positive global cues and positive US Bank’s result. #BFSI
Nifty: RSI @ 59.20 & RSI average @ 52.88. Nifty closing was very strong, highest level for this month. Nifty could find strong support at 15983 & potential target of 16622 once 16330 is crossed.
Banknifty: after yesterday’s strong up move, Banknifty is near its target of 35543, RSI @ 61.49 & RSI average @ 56.82. Banknifty – support @ 34961 & 34602 & upside target @ 35985.
SGX Nifty @ 16181 down 109 points at 8:20 AM
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