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The Option data indicated that 19,400-19,500 is likely to be an immediate resistance zone for the Nifty, with support at 19,300-19,200 levels
The daily and the hourly momentum indicators have a negative crossover, which is a sell signal. Overall, there a no signs of trend reversal and the short-term outlook is negative, Jatin Gedia of Sharekhan by BNP Paribas has said
Going forward, 19,550-19,600 zone is expected to be crucial for further sharp upside in the index, with strong support at 19,250 zone, experts said
The Option data indicated that the Nifty may get support at 19,400-19,300, whereas 19,500-19,600 can be hurdles on the higher side.
PNB Housing Finance stock with a market capitalization of more than Rs 16000 crore trades at a P/E multiple of 13.97x and an Earnings Per Share (EPS) of 45.11, BSE data showed. The stock gave a breakout from a falling trendline resistance on the monthly charts which is a positive sign for the bulls.