GEPL Technical view on Nifty – 24th November (video)

Today Nifty has closed at 5935 with a loss of 75points which is 1.25% loss comparative to its previous close. Yesterday we have mentioned about the bounce back which didn’t materialize today and market made a further new low of 5825 before giving a bounce back. Now we are of the view that is bounce will continue and will able to lift up Nifty up to the mark of 5975 which is the next crucial resistance area and above that up to 6020-6050.On the down ward side market has got good support around the level of 5900 and below that at 5850. We are of the view that BSE-Bankex and BSE-Auto is going to out perform the broader indices while BSE-FMCG and BSE-Capital Goods is going to under perform the market.

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