Page 2 - Technical View News Today

Nifty Bank index opened 200 points higher and extended the gains as the day progress and inched closer to 49,000 mark.

Nifty Bank index also zoomed to fresh high of 48,716.95 but closed with minor gain of 0.18 percent at 48,581.70.

The options data indicated that 22,500 is expected to be crucial for the direction in the Nifty 50 in the near term with hurdle on the higher side at 22,800 and support at 22,400-22,300 levels.

The volatility cooled down further, consistently giving more comfort and support to the bulls. The India VIX, the fear index, slipped 2.4 percent to 11.37 level, the lowest level since November 24, 2023.

The monthly options data indicated that 22,300 is expected to be crucial for the further Nifty direction with hurdle on the higher side at near record high levels (which is in between 22,500-22,600 levels), and support at 22,000 mark.

The options data indicated that the Nifty may face an immediate resistance at 22,200 level with support at 22,000 and 21,900 levels

The options data indicated that 21,900 is expected to be key support area for the Nifty 50 with hurdle on the higher side at 22,200

The options data indicated that 21,800-21,700 is expected to be next support for the Nifty 50, with resistance at 22,200-22,300 levels.

The options data indicated that 22,000 is expected to be crucial for further direction in the Nifty 50, with immediate support at 21,900, and resistance at 22,100-22,200 levels.

The options data also indicated that 22,500 is expected to be key hurdle for the Nifty 50 on the higher side with support at 22,000