On Friday Indian markets were consolidating and closed positive at 17853 which is +30 points. Yesterday bank nifty also was consolidating and closed at 37830 which is +58 points.
The US market on Friday was also consolidating and closed in green. Dow Jones on Friday closed positive by +33 points (+0.095%). IT index i.e. Nasdaq was also consolidating and closed flat -4 points (-0.030%).
Following are the supports and resistance for two major indexes of INDIA.
Nifty support – 17775-17825 & 17600-17650
Nifty resistance – 17950-18000 & 18075-18125
Bank nifty support – 37500-37675 & 37250-37400
Bank nifty resistance – 38000-38100 & 38300-38450
Yesterday (Foreign institutional investors) FII were net Buyers and have bought 442 crores in the cash market. On the other hand (Domestic institutional investors) DII were net sellers and have sold576 crore in the cash market.
As mentioned on Friday our oldest index Sensex has touched and sustained above 60000. The market still looks bullish in this Bull Run and the US market has also resumed its up move after correction. Today again it can be a historic day for Indian markets as Nifty can touch 18000 levels.