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During today's trading session, the market opened on a gap-up note and showed strength throughout, closing at 17463 level with a gain of 197 points and Bank Nifty at 38610 level with a gain of 581 points. Currently, the index has support at 17200 levels and resistance at 17600 levels, while Bank Nifty has support at 38000 levels and resistance at 39400 levels.
The retail investor continues to show optimism on market dips.
While we are seeing FII outflows, we are seeing positive inflows from domestic
investors as well. It is always advisable to buy on dips for better rupee-cost
averaging that results in good long-term
outcomes.The positive trend in dynamic flows is also encouraging, as most
asset-allocation models maintain a balance of debt and equity allocation to
take advantage of market corrections and rise in equity allocations.We will be watching closely tomorrow's RBI policy announcement since rising domestic inflation and tightening policy by global central banks are likely to influence the central bank to take a similar stance.
|
RESISTANCE |
R1 |
R2 |
R3 |
|
|
17541 |
17596 |
17756 |
|
SUPPORT |
S1 |
S2 |
S3 |
|
|
17381 |
17276 |
17116 |
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