NIFTY closes above 11500! Check out the resistance levels ahead.
Nifty - Technical Analysis:
-Nifty closes green for the second day after the big fall on Monday, closing above 11500 indicating stability
-Support level at 11400, resistance levels to watch out for ahead: 11600,11660
Market - Driving Factors:
-The oil & gas and IT indices gained over a percent while the midcap and smallcap indices added a percent each.
-Top Index gainers: M&M (6.10%), Power Grid (3.21%), Tata Steel (2.48%)
-Top Index losers: Bajaj Auto (2.15%), Asian Paints (1.41%), Sun Pharma (1.30%)
-All telecom stocks trading in the green; Voda Idea up 11%, Bharti Infrate 3% after
the AGR verdict
Nifty - Outlook for Thursday, 3rd September:
NIFTY closing above 11500 is a good sign and it sustained that level throughout the day. Nifty is expected to test the above resistance zone once again, with support at the trendline. Resistance levels ahead at 11600,11660
-Nifty closes green for the second day after the big fall on Monday, closing above 11500 indicating stability
-Support level at 11400, resistance levels to watch out for ahead: 11600,11660
Market - Driving Factors:
-The oil & gas and IT indices gained over a percent while the midcap and smallcap indices added a percent each.
-Top Index gainers: M&M (6.10%), Power Grid (3.21%), Tata Steel (2.48%)
-Top Index losers: Bajaj Auto (2.15%), Asian Paints (1.41%), Sun Pharma (1.30%)
-All telecom stocks trading in the green; Voda Idea up 11%, Bharti Infrate 3% after
the AGR verdict
Nifty - Outlook for Thursday, 3rd September:
NIFTY closing above 11500 is a good sign and it sustained that level throughout the day. Nifty is expected to test the above resistance zone once again, with support at the trendline. Resistance levels ahead at 11600,11660
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