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    Nifty 50 Nifty Bank Analysis
    for March 28
    , 2024Today Stock Market

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    Chanakya’s Nifty Bank & Nifty 50 Investments Analysis

    Nifty Bank (46786)
    :

    *Major Trend: Bullish
    *Trend for 28 March: Nifty Bank is expected to show strong opening.
    *On higher side, it is expected to move up to 46946
    *On lower side, expected to decline to 46634

    Nifty 50 (22124):
    *Major Trend: Bullish
    *Trend for 28 March: On Thursday, Nifty is expected to show positive openings at the opening bell
    *On higher side, expected to move up to 22194
    *On lower side, it is expected to decline to 22053

    Nifty Analysis by Shrikant Chouhan Head Equity Research Kotak Securities

    Today, the benchmark indices witnessed range bound activity, the Nifty ends 92 points lower while the Sensex was down by 362 points. Among Sectors, Nifty Reality index rallied 1.5 percent whereas Media index shed over 1 percent. Technically, after a gap down opening entire day the market hovered between 22000 to 22075/72500 to 72700. On daily charts also the index has formed inside body, candle which indicating indecisiveness between the bulls and the bears. We are of the view that, currently the market is witnessing positive consolidation and for the bulls now, 50 day SMA or 21950/72400 (Simple Moving Average) could be the sacrosanct support level. Above the same, the market could move up till 22150-22200/72800-73000. On the flip side, below 50 day SMA or 21950/72400 the selling pressure could accelerate. Below the same, the market could retest the level of 21800-21750/72100-72000.

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    7 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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