GEPL Technical view on Nifty – 29th November (video)

Today Nifty has closed at 5752 with a loss of 48 points which is 0.82% loss comparative to its previous close. Yesterday we have mentioned about the fall and expected the market to fall in the area of 5700-5750 which did materialize today. In fact on intraday basis market went below 5700 mark and made of low of 5690. Now we are of the view that a further decline up to the range of 5600-5650 is on cards before making any major up move. Regarding intraday support on the down ward side market has got good support around the level of 5690 and below that at 5590 while resistance is placed at 5820 and 5860.

We are of the view that BSE-FMCG and BSE-Health care is going to out perform the broader indices while BSE-Metals and BSE-Realty is going to under perform the market.

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