Global Markets

US stock markets: Dow Jones gains 115 points

Futures for the Dow: +10 points

Asia-Pacific markets: Positive

(Adjusted) GIFT Nifty: +52 points

Data Analysis

Technical Outlook

Nifty (Spot)

• After recovering from 19200, the Nifty closed above 50 and the 20-DMA.
• Above 19500, we may anticipate a rally for short-covering. This is the immediate obstacle.
• A level of immediate support is 19350; below this, weakness can recur.

Bank Nifty (Spot)

• Banknifty closed above the 20-DMA and respected the 100-DMA.
• The 44800-45000 range is a crucial resistance level; over it, a rally for short-covering is likely to occur.
• A crucial and immediate support level is 44000; below this, weakness might return.