Tuesday, May 18, 2021

Nifty and BankNifty, Stock Market Outlook 19 May 21


 Nifty and BankNifty, Stock Market Outlook 

Stock Market Today 

Indian equity benchmarks surged for the second straight session and ended with gains of over one and half percent on Tuesday driven by gains in index-heavyweights Mahindra & Mahindra, Bajaj Auto and Titan Company amid positive global cues. Key indices made a gap-up opening, as India recorded daily cases below 3 lakh for the second straight day. The fresh case count in the last 24 hours stood at 2.63 lakh versus 2.81 lakh. Besides, the Union health ministry said that more than two crore covid-19 vaccine doses are still available with the states and Union territories, while nearly three lakh doses are in the pipeline and will be received by them within the next three days. Investors sentiment remained upbeat with the RBI data showing that India Inc's foreign investment in the first month of this current fiscal jumped by more than two-times year-on-year to $2.51 billion.

Nifty Outlook

The CNX Nifty traded in a range of 15,137.25 and 15,043.70 and there were 42 stocks advancing against 8 stocks declining on the index.
Today Nifty sustained above 15044 crucial level. Now 15044 will act as crucial support for Nifty in short term.
Now there may be a break in the momentum and  Nifty will remain in sideways zone with negative nature . This will be routine correction after that again a sharp recovery expected.

So for tomorrow 15031 will be important support in Nifty and  15148-174 will be important resistance.
Nifty will remain sideways with negative nature . 

BankNifty Outlook


For tomorrow Banknifty will trade in a sideways zone with negative nature and the momentum that we were seeing from the two days will not be seen.
34208 will be important resistance and  33522 will be important support for tomorrow.

Thanks for your Precious Time.

Finvest Online
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Disclaimer- The information on this blog are based on my personal opinion and experience, it should not be considered professional financial investment advice and in no way it should be considered as a tip. We does not take any compensation of any kind whatsoever from any reader, user and company that are mention on this website. We are not SEBI registered financial advisor or analyst.

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