The markets declined almost 2% in yesterday afternoon trades due to selling pressure in metal shares after the Cabinet cleared the New Mining Bill, calling for companies to share profits. The Nifty declined -99.15 points, at 4931 or -1.79.
Nifty Futures settled and closed at 4931 which was up by -99.15 points or 1.62 %. It is looking bullish in the coming trading session if it would be able to manage to trade above the resistance level of 5040 or below the support level of 4905 then it would be in a downward trend.
Nifty Futures settled and closed at 4931 which was up by -99.15 points or 1.62 %. It is looking bullish in the coming trading session if it would be able to manage to trade above the resistance level of 5040 or below the support level of 4905 then it would be in a downward trend.
Support and Resistance Levels for Monday:-
Resistance1- 5070 & above this level
Resistance2- 5340.
Support1- 4900 & below this level
Support2- 4750.
Bank Nifty Futures:-
In banking sector, CNX Bank Index lost about 185.10 points or -1.48 % yesterday. Amongst the banking index Kotak Mahindra Bank, Bank of Baroda and HDFC Bank were the leaders of the row.
Bank Nifty Futures settled and closed at 9430 which was down by 242.35 points or 2.51 %. It is looking bullish in the coming trading session if it would be able to manage to trade above the resistance level of 9690 or below the support level of 9380 then it would be in a downward trend.
Support and Resistance Levels for Monday:-
Resistance1- 9690 above this level
Resistance2- 9990.
Support1- 9380 & below this level
Support2- 9160.
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