Nifty Today Outlook Report - 19th May, 2022
Post a sharp up move on Tuesday, our markets started trading for the day on a positive note and almost tested 16400 mark. However, it gave up the morning gains in the later part of the day and ended tad below 16250 with a marginal loss.
Nifty has given a sharp pullback from the recent swing lows and has almost tested the 16400 mark today. The index was dealing with the resistance around 16400 as it is the 38.2% retracement of the recent corrective phase from 12415 to 15735. In case the markets resists here and is unable to surpass this hurdle, then it could lead to a correction again in the near term. Above 16400, next hurdles will be seen around 16520 and 16575.
Nifty Today:
Any change of trend needs a change in structure in form of a ‘Higher Top Higher Bottom’ and till then such upmoves should just be seen as a pullback. Hence, traders should avoid aggressive buying and look to book profits around resistances. On the flipside, the intraday supports for the coming session are placed around 16170 and 16100.
Nifty Levels |
Bank Nifty Levels |
|
Support 1 |
16170 |
33980 |
Support 2 |
16100 |
33800 |
Resistance 1 |
16355 |
34500 |
Resistance 2 |
16472 |
34840 |
Share Market Today
Indices Name | Price | Price Change (% change) |
---|---|---|
S&P ASX 200 | 7638.10 | 24.4 (0.32%) |
CAC 40 | 8023.26 | 41.75 (0.52%) |
DAX | 17837.40 | 67.38 (0.38%) |
Dow Jones | 37775.38 | 22.07 (0.06%) |
FTSE 100 | 7882.83 | 22.74 (0.29%) |
Hang Seng | 16385.87 | 0 (0%) |
US Tech Composite | 15606.50 | -81.87 (-0.52%) |
Nikkei 225 | 38079.70 | 0 (0%) |
S&P 500 | 5011.12 | -11.09 (-0.22%) |
Gift Nifty | 22015.00 | -97 (-0.44%) |
Shanghai Composite | 3074.22 | 0 (0%) |
Taiwan Weighted | 20301.20 | 87.87 (0.43%) |
US 30 | 37749.70 | 0.1 (0%) |
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