Nifty Daily Timeframe Analysis

Nifty 50 showed weakness last week and a gap down occurred and bounced back from the support of 17297 zone as mentioned in an earlier blog.

Nifty might face resistance of gapped down zone on upside while 17297 may work as support on downside.

Nifty 1 Hrs Timeframe Analysis

On Friday, Nifty 50 closed at 17412.90(-1.00%). Nifty gapped down and find support on zone of 17425 as described on 9th march blog. 

Nifty may find further resistance on gapped down zone on upside while 17255 may work as suppor on downside.

Bank Nifty Daily Timeframe Analysis

Bank Nifty gapped down and well reacted from resistance zone of 41619 as described in weekly blog.

Bank Nifty needs to break the gapped down zone for any upmove while 39753 might work as support on downside.

Bank Nifty 1 Hr Timeframe Analysis

 On Friday, Bank Nifty closed at 40485.45 (-1.87%). BN gapped down and found support on 40361 as mentioned in the last blog. BN is showing weakness due to a gap down and it was not able to break the resistance of 41729 level.
As BN has support at 40436 on the downside followed by 40000 zone as the support level on the downside.

Sector Heat Map based on Last week's performance

Stocks in News

• Sula Vineyards announces resignation of its Chief Financial Officer
• Godrej Properties Ltd acquires land parcel near Whitefield in Bengaluru 
• Commercial Syn Bags Ltd starts commercial production of new unit
• Cheviot Company Ltd commissions new weaving unit

Analysis by
Dixit from MT Team
Equity Research Analyst (Technical & Fundamental). Experienced Index Analyst.