Weekly Status Of Nifty & Bank Nifty

INDORE, India - July 27, 2019 - PRLog -- Nifty View

Markets extended losing streak to third consecutive week, as indices have been under immense selling pressure. However, on Friday benchmark indices witnessed minor revival signs. Nifty found support at 11200 zone. The long term 200-DMA support is around the 11150 levels while the May 2019 low is at 11110 levels. Going forward, only a crack below these crucial support levels would lead to a major breakdown.

Weekly Chart

Bank Nifty View

Bank Nifty on the other hand has been an outperformer during the week. The index has formed a bullish morning star pattern while on the weekly chart the index has also formed a Hammer candle pattern indicating short term reversal is on the cards.


STOCK OUTLOOK

RELINFRA FUT :- Stock saw pull back from lower band and closed around 20 DMA which indicates buying in stock if able to sustain above the level given below

Stock in ban period

NIL.

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