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    Nifty 50 Nifty Bank Analysis
    for April 23
    , 2024Today Stock Market

    Table of Content

    Chanakya’s Nifty Bank & Nifty 50 Investments Analysis

    Nifty Bank (47574)
    :

    *Major Trend: Bullish
    *Trend for 22 April: Nifty Bank is expected to show positive opening on Monday and then down ward will resume. For next few session, the market mood is expected to remain weak.
    *On lower side, expected to decline to 46879
    *On higher side, it is expected to move up to 47968

    Nifty 50 (22147):
    *Major Trend: Bullish
    *Trend for 22 April: Nifty is expected to show positive opening on Monday and then down ward will resume. For next few session, the market mood is expected to remain weak.
    *On lower side, it is expected to decline to 21889
    *On higher side, expected to move up to 22291

    Nifty Analysis by Shrikant Chouhan Head Equity Research Kotak Securities

    Today the benchmark indices continued the positive momentum. Nifty ends 189 points higher while the Sensex was up by 560 points. Among Sectors, almost all the major sectoral indices were traded in to the positive territory but PSU Banks gain the most rallied over 3 percent.

    Technically, after a gap opening the market held the positive momentum throughout the day, which is largely positive. For the traders now, 50 day SMA (Simple Moving Average) or 22180/73100 would act as a key support zone. as long as the index is trading above the same the pullback formation is likely to continue.

    On the higher side index could find the resistance at 22400-22450/73900-74100. However, below 22180/73100 the sentiment could change. Below which we could see one quick correction till 22100-22075/72800-72600.

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    9 Comments on “Nifty 50 & Nifty Bank Analysis

      1. admin Post author

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    1. mrinalpgore

      Adani Ports& SEZ shares are not picking up? Any hopes in the near future of improving these shares?

      Reply

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