Indian markets settled higher on Wednesday reversing earlier losses. Nifty witnessed a highly volatile session today leading to indecision in the market. At the close, the benchmark 30-share index, BSE Sensex gained 45.04 or 0.23% at 20,026.61 with 16 components posting rise. While the broad based NSE Nifty closed flat with a gain of 5.80 points or 0.10%, at 6,054.30.22 components posting rise
Nifty Technical Outlook-
The Nifty has a strong support at 6,020-5,990 levels on the downside. If Index manages to sustain above these levels for couple of trading sessions one can expect short term bounce to 6,100 levels which faces crucial resistance on the upside, expect selling pressure to continue at higher levels.
Bank Nifty:
There is strong resistance at 12,850 & 12,900 levels on the upside, where selling pressure is expected one should maintain a positive bias only on close above this for an upside potential to 13,350. Bank Nifty has immediate support at 12,450-12,550 levels on the downside.
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Nifty may rally to 6100 in short term: Nirmal Bang
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