Indian equity settled higher led by realty, banking, consumer durables and PSU stocks - Nirmal Bang

Indian equity settled the volatile session higher on Thursday led by realty, banking, consumer durables and PSU stocks.

At the close, the benchmark 30-share index, BSE Sensex gained 179.68 points or 0.90% at 20,128.41 with 23 components registering rise. Meanwhile, the broad based NSE Nifty went up by 64.75 points or 1.08% at 6,038.05 with 42 components registering rise.

Nifty has formed a bullish pattern on the weekly charts which has confirmed a positive bias. The index this has week managed to hold the crucial support of 5,900 levels and bounced sharply. There is an immediate resistance at 6,060 levels on the upside and on a decisive close above expect rise to 6,120 & 6,180 levels.

Action: Nifty has an immediate resistance at 6,060 levels and on a decisive close above expect rise to 6,180 levels.

The Bank Nifty has managed to hold the crucial support of 10,800 levels for couple of trading session and one can expect a short bounce as most of the technical indicators remain in the oversold territory. There is an immediate resistance at 11,260 levels on the upside and on a decisive close above expect rise to 11,450 & 11,500 levels.

Source : Equity Bulls

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