Bank Nifty futures Above 36000 Level Target Price 37500++ Buy on Dips

Bank Nifty futures Above 36000 Level Target Price 37500++ Buy on Dips, Indian equities faced pressure at higher levels, snapping a six-day winning streak after cooling off from the day’s high in the final minutes of trade.

The S&P BSE Sensex ended 20 points lower at 51,329, declining over 500 points from the day’s high. The NSE Nifty 50 also fell 150 points from the highest point of the day to end seven points lower at 15,109.

Bank Nifty futures

Benchmark indices faced pressure from banking stocks which had a volatile trading session. The Nifty Bank index traded in an 800-point range but managed to eke out gains for the ninth straight day.

Pressure came from Pharma, Metals, Media and Auto stocks. The Media index was the top laggard, ending 1.9% lower courtesy the losses in Sun TV and Zee Entertainment.

The Nifty Auto index fell 1.4% while the Nifty Pharma and Nifty Metal index declined over 1% each in today’s session.

  • Nifty up 0.8% at 15,241
  • Sensex up 0.8% at 51,770
  • Nifty Bank up 1% at 36,351
  • Nifty Midcap index up 0.5%
  • Nifty Small cap index up 0.2%
  • India Volatility Index down 1.8% to 23.5
  • PSU Bank index off the day’s high but remains top sectoral gainer; up 1.3%
  • Media index down 1% while Auto index falls 0.6%
  • Asian Paints is the top Nifty gainer; up 4.3%
  • Mahindra & Mahindra is the top Nifty laggard; down 3%
  • 984 stocks on the NSE trade with gains while 872 are declining

Broader markets also gave up gains to end with a negative bias. The Nifty Midcap index fell 0.1% while the Small cap index fell 0.5% at the close of trade.

The India Volatility Index reversed from the day’s low to end 1.3% higher at 24.27.

792 stocks on the NSE ended with gains while 1,111 stocks posted losses.

Bank Nifty futures Above 36000 Level Target Price 37500++ Buy on Dips via @goldsilverrepor
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