Sensex regains 20000 with help from Reliance - Nirmal Bang

Indian equity settled on a buoyant note on Monday with Sensex regaining 20,000. Reliance Industries led the rally after the company. At the close, the benchmark 30-share index, BSE Sensex added 326.44 points or 1.66% at 20,030.77 with 27 components posting rise. Meanwhile, the broad based NSE Nifty went up by 99.60 points or 1.66% at 6,083.15 with 44 components posting rise.

There is an Immediate Resistance at 6,100-6,120 levels on the upside, expect selling pressure to continue at higher levels unless index manages to sustain and close above it. There is a crucial support at 5970-5930 levels.

Action: Nifty has an immediate support at 5970 levels on the downside and resistance at 6120 levels on the upside.

Bank Nifty faces immediate resistance around the 13,150 levels on the upside and maintains a sell on rise approach. There is an Immediate Support at 12,750 levels on the downside and on decisive close below expect declines to 12,550 levels.

Source : Equity Bulls

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