Nifty started opening weaker with BankNifty dragging the benchmark on early tradesPremkumar Ramachandran (Author) Published Date : May 06, 2020 12:56 IST
12:30 Mid-Day Market Analysis & Update:- Nifty Open- 9226.8, High- 9346.9, Low- 9116.5 & Last- 9301.
Nifty started opening weaker with BankNifty dragging the benchmark on early trades, NBFC, Banks, Cement & Auto Stocks pushed the Index till an intraday high of 9346.90, a 230 Point Intraday Gain or 2.57% was recorded till now.
Most Active Future Contracts are AxisBank, Reliance, BajFinance & ICICIBank on Value while OI Spurt is seen in NIITTech, TataChem, SBILife & TVSMotors.
We have seen OI Spurt in Nifty 9300CE, BankNifty 19500CE & 19800CE. This suggests Nifty may have to get some resistance around 9350, 9412, 9478. Supports are visible at 9274, 9248 & 9212. More updates will be at 14:30. Stay cautious over any position and trade with proper TSL.