GEPL Technical view on Nifty – 04th October (video)

Today NIFTY has closed at 6143 with a massive gain of 113 points which is almost slightly lower than 2% comparative to its previous close. Today we have seen that crossover above 6070 has further pushed NIFTY to next resistance level of 6150. We at GEPL are of the view that market is heading towards the range of 6300 to 6350. A minor dip upto 6070 to 6100 range may come which should be used as a buying opportunity with a stop loss of 6020 and target of 6300 to 6340. On the downward side the market has support at 6120, 6070 and 6020.

Regarding sector specific approach, we are bullish on BSE Reality and BSE Metal indices while BSE FMCG and BSE Oil & Gas is going to underperform the broader indices in short term.


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