Nifty50 witnessed a moderately positive session today, with the Nifty 50 closing at 23,518.50, up 0.28% or 64.70 points. Foreign Institutional Investors (FIIs) were net sellers, while Domestic Institutional Investors (DIIs) were net buyers.
FII and DII Performance:
- FIIs: Net sellers (-₹3,411.70 crore)
- DIIs: Net buyers (₹2,783.90 crore)
- FII Derivatives: Net negative position (-₹2,631.10 crore)
Sector Performance:
- Nifty Realty: 20.7% return
- Nifty Auto: 14.6% return
- Nifty FMCG: 8.6% return
- Nifty Bank: 8% return
Technical Analysis of Nifty50 for Tomorrow:
- Short-term trend: Bullish
- Chart patterns: Higher High and Higher Low, Bullish Engulfing
- Technical indicators: RSI (63.45), MACD (positive crossover), Stochastic Oscillator (overbought region)
- Support and Resistance: 23,400/23,200 (support), 23,600/23,800 (resistance)
Predictions and Recommendations:
- Possible upside target: 23,650-23,700
- Possible downside target: 23,350-23,300
- Expected volatility: Moderate
- Buy above 23,550 with stop-loss at 23,450
- Sell below 23,400 with stop-loss at 23,550
Disclaimer:
Please note that technical analysis is subjective and not foolproof. This analysis is based on historical data and may not predict future market movements accurately. This analysis is for informational purposes only and should not be considered as investment advice. Please take advise from your financial advisor before investing/trading in market.
