Nifty Future is opening at 9189 as per SGX Nifty at 8:20 am IST, 32 points above its previous close of 9157, says Dynamic Levels.
Dynamic Levels' Market Outlook:
Nifty continues to consolidate at higher levels, can see profit booking
Indian Market Outlook: The Indian Benchmark Index Nifty yesterday, traded in a very short range of 51 points for the whole day by making a high of 9167 and low of 9116. Nifty opened at 9167 and closed at 9127, 33 points down from its previous day’s close. Among Nifty stocks, Aurobindo Pharma was up by 2.52 percent, Grasim by 2.02 percent, Eicher Motors by 1.65 percent and BHEL by 1.33 percent. Idea Cellular was down by 9.62 percent because of the news of its merger with Vodafone.
Bank Nifty also remained in a range of 117 points for the whole day yesterday. Among its constituents, Axis Bank was down by 2.77 percent and ICICI by 1.98 percent. On the other hand, Bank of India was up by 1.54 percent, Kotak Bank by 0.75 percent and HDFC Bank by 0.72 percent. 21060 is the major immediate support for Bank Nifty.
Small Cap Index was relatively stronger as compared to Nifty & Bank Nifty. It made an all time high of 6847 and finally closed at 6832, which is 27 points high from its previous day’s close of 6804.
Nifty Future is opening at 9189 as per SGX Nifty at 8:20 am IST, 32 points above its previous close of 9157.
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