The NSE Nifty 50 and BSE Sensex ended Friday’s session in loss as Reliance Industries Ltd., and ITC Ltd. declined. However, the benchmarks recorded most weekly gains since June end.
The Nifty 50 ended 32.40 points or 0.13% lower at 25,356.50, and the BSE Sensex settled 71.77 points or 0.09% lower at 82,890.94.
Intraday, the Nifty 50 index declined as much as 0.38% to 25,292.45, and the Sensex fell 0.37% to 82,653.22.
On Thursday, the benchmarks posted fresh high during the second half of the session.
“For short term now, 25,225-25,000/82,500-82,000 would be the key support zones while 25,500-25,700/83,500-84,000 would be the crucial resistance areas for the bulls. However, below 25,000/82,000 uptrend would be vulnerable,” said Amol Athawale, vice president, technical research, Kotak Securities.
For NSE Nifty Bank as long as it is trading above 50-day simple moving average or 51,350 the bullish formation is likely to continue. On the higher side, it could move up to 52,250-52,700. On the other side, below 50-day SMA or 51,350 traders may prefer to exit out from the trading long positions, Athawale added.
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Publish date : 2024-09-12 15:21:00
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