CAPITALSTARS PRESENT DAILY DERIVATIVE MARKET UPDATE : 24 JAN 2020

                            Nifty Outlook

                             24 JAN 2020

NIFTY FUTURES DAILY TECHNICAL OUTLOOK

FOR DATE: 24/1/2020


TECHNICAL CHART

PIVOT POINTS

TECHNICAL VIEW:

Nifty ends above 12,150, Sensex up 271 pts; Yes Bank up 6%, ZEE dips 7%.Bulls attempt a comeback and broadly defend our mentioned support zone of 12,100. Market breadth was comfortably positive and individual stocks did well. Till the mentioned support zone is defended by the bulls, index has a good chance to recover lost ground however, a decisive breach below 12,100 zone will be negative and index can slip further towards 11,800 zone. Currently, markets are in a consolidation phase. Nifty is likely to face resistance towards 12,270 zone. 

Nifty futures have resistance 12300 after crossing this level it can reach up to the level 12430. In the downside nifty futures has support near 12100 after breaking this support it can slip till level of 11850.

                           Nifty Outlook 

                            24 JAN 2020

BANK NIFTY CHART:

DAILY PIVOTS LEVELS:

TECHNICAL VIEW:

In next trading session bank nifty futures have resistance 31300 after crossing this level it can reach up to the level of 31500.In the downside bank nifty futures has support near 30800 after breaking this support it can slip till level of 30500.

Global Indices:

US STOCKS - U.S. Futures NASDAQ 100 are up 0.04% while Dow futures down 0.04 % and
S&P 500 Futures up 0.02%.

European stock markets trading in a flat to negative zone with DAX down 0.09 % and FTSE
down 0.18 % respectively, and all the major bourses in the region trading in negative territory.

The U.S. dollar index, which measures the greenback against a basket of six major currencies,

is down 0.01% to 97.28.

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