Nifty Future is opening at 8444 as per SGX Nifty at 8:50 am IST, 9 points above its previous close of 8435, says Dynamic Levels.
Dynamic Levels' Market Outlook:
Nifty holds 8400 levels, Bank Nifty outperforms
Indian Market Outlook:
Benchmark Nifty yesterday took support of 8370 levels which was the low of its past two trading sessions.Banking stocks led by HDFC Bank, saw broad based buying throughout the day. If Nifty is able to sustain above 8450, the important level to watch out in Nifty is 8540 on the upside.
The open interest data in the January clearing has shown buying by both FII and Pro. The important levels for Bank Nifty on the upside being 19150 and if that level is crossed, the next target being 19430.
Reliance Industries came out with its quarterly results which was below market expectations and the stock can remain under selling pressure.
Nifty Future is opening at 8444 as per SGX Nifty at 8:50 am IST, 9 points above its previous close of 8435.
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