The immediate resistance levels for Nifty50 are 15,850 and 16,000 while key support levels for the index are 15,500 and 15,300, said Mohit Nigam, Head- PMS, Hem Securities.
Nifty futures on Singapore Exchange traded 17 points, or 0.11 per cent, lower at 15,678 signaling that Dalal Street was headed for a negative start on Friday.
Nifty futures on Singapore Exchange traded 15 points, or 0.10 per cent, lower at 15,616 in signs that Dalal Street was headed for a negative start on Wednesday.
SGX Nifty up 25 points; here s what changed for market while you were sleeping
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Last Updated: May 20, 2021, 08:13 AM IST
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Synopsis
Nifty50 on Wednesday formed a Shooting Star candle on the daily chart, which is generally found in an uptrend and suggests a potential trend reversal.
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Net-net, foreign portfolio investors (FPIs) turned seller of domestic stocks to the tune of Rs 697.75 crore, data available with NSE suggested. DIIs were net sellers to the tune of Rs 852.52 crore, data suggests.
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The minutes of US Fed April policy review have stoked some tapering fears while wild swings in cryptocurrencies the world over have made investors jittery over risky assets. Most Asian markets were down early Thursday. But Nifty futures trading in Singapore signalled a positive start. Here s breaking down the pre-market actions:
Trade Setup: Nifty may make a technical pullback on Monday; stay away from high beta stocks
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Trade Setup: Nifty may make a technical pullback on Monday; stay away from high beta stocksBy
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Synopsis
Monday s session is likely to have a tepid start to the day. The levels of 14,680 and 14,735 will act as immediate resistance points, while support will come in at 14,550 and 14,480 levels.
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The pattern analysis shows that the index was very much within the falling channel formed after marking the high point at 15,431. Nifty is once again between its 50-, and 100-DMA at 14,782 and 14,459, respectively.