nifty banknifty
Nifty
Support Zone 21860-21821
Resistance Zone 22327-22406
Banknifty
Support Zone 47069-46827
Resistance Zone 48258-48374
A long build-up was seen in 64 stocks, including Cipla, Astral, Siemens India, Aditya Birla Capital, and Dr Lal PathLabs.
The market is expected to continue its upward journey considering the formation of Bullish Hammer candlestick pattern (the bullish reversal pattern formed at the downtrend) on the daily charts and strong intraday trend reversal in the previous session. Hence, the Nifty 50 may face hurdle at 22,200-22,300 on the higher side and if the index manages to decisively close above 22,300 then northward journey towards 22,500-22,600 is possible, with support at 22,000-21,900 levels, experts said.
On May 13, the benchmark indices extended uptrend for yet another session. The BSE Sensex was up 112 points at 72,776, while the Nifty 50 climbed 49 points to close at 22,104 after a 283-points recovery from the day's low.
Support Zone 21860-21821
Resistance Zone 22327-22406
Banknifty
Support Zone 47069-46827
Resistance Zone 48258-48374
A long build-up was seen in 64 stocks, including Cipla, Astral, Siemens India, Aditya Birla Capital, and Dr Lal PathLabs.
The market is expected to continue its upward journey considering the formation of Bullish Hammer candlestick pattern (the bullish reversal pattern formed at the downtrend) on the daily charts and strong intraday trend reversal in the previous session. Hence, the Nifty 50 may face hurdle at 22,200-22,300 on the higher side and if the index manages to decisively close above 22,300 then northward journey towards 22,500-22,600 is possible, with support at 22,000-21,900 levels, experts said.
On May 13, the benchmark indices extended uptrend for yet another session. The BSE Sensex was up 112 points at 72,776, while the Nifty 50 climbed 49 points to close at 22,104 after a 283-points recovery from the day's low.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.