Nifty50 and Banknifty Next Target

 The Indian stock market (NSE) continues to decline due to the dominance of stock sellers. The Indian Stock Exchange (NSE) continues to fluctuate only at certain points, though it has not seen a major decline so far.

 If the Indian stock market trades below these specific points, a sharp decline can be expected.

 It remains to be seen for a few weeks whether the Indian stock market will continue to decline.

 Nifty50 status today

 The Nifty50 started the morning trading 108 points higher than the Tigers in its Friday results.

 The stock started trading at 17619.10.

 As we were told on our blog yesterday, the stock had a strong resistance of 17630 and continued to trade on the uptrend without losing momentum.

 The Indian stock market ended lower at 17368.25.

 The Nifty50 ended 143.05 points lower at its close today.

 Saw a decline of 0.86%.

 The stocks that gave the highest returns today are as follows

1.  AXISBANK
2.  TECHM
3.  SBILIFE
4.  WIPRO
5.  HINDALCO

 The 5 stocks that saw declines are as follows

1.  BAJFINANCE
2.  BAJAJFINSV
3.  RELIANCE
4.  M&M
5.  TATACONSUM

 Similarly, all sectors of the Indian stock market today traded lower. However, the Nifty IT sector alone traded up 0.31%.

 Nifty50 anticipation for tomorrow

 Point 17350 acts as a storng support as mentioned in the photo above. So if the stock market trades below these points tomorrow the Nifty is likely to see a decline of 50 tomorrow.

 Below are some of the resistance and support points as in this photo. Based on these points one can easily find out which direction the Indian stock market will go tomorrow.

 Resistance

 R1 - 17605

 R2 - 17954

 Support

 S1 - 17223

 S2 - 16763

 Banknifty situation today

 Banknifty started trading today, up 250 points from the close on Friday. Then the point of 37500 acted as strong resistance and then the banknifty started to decline as the dominance of the sellers increased.

 Banknifty traded down 180 points from yesterday's close.

 Banknifty saw a decline of 0.49%.

 Tomorrow's banknifty situation

 When the banknifty starts trading tomorrow, the banknifty will see an increase if it trades above 37770 points as mentioned in the photo above.

 Similarly, trading against points of 36144 is likely to continue to decline.

 BSE

 The Bombay Indian Stock Exchange also traded 500 points lower today.

 Sgx nifty

 Sgxnifty is currently trading at just 8 points lower. Sgxnifty is trading at 17461.

 The stock market is subject to market risks so research well and select stocks and trade.