Nifty is now placed at the crucial support juncture of around 14200-14150.
SGX Nifty points at a gap-up opening for domestic equity benchmarks BSE Sensex and Nifty 50 on Thursday. Global markets were seen trading higher following an overnight bounce on Wall Street. Japan’s Nikkei 225, Topix and Kospi advanced up to 1.5 per cent. Indian stock market investors will return to trade n Thursday, as markets remained closed on Wednesday on account of Ram Navmi. The week started on a weak note and headline indices registered a fall for two straight days. Nifty is now placed at the crucial support juncture of around 14200-14150. “The chances of downside breakout seems higher. A decisive below the support is likely to drag Nifty down to 13500 levels in a quick period of time. Any upside bounce from here could find strong resistance around 14370,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
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