GIFT Nifty is suggesting a positive start to the Indian markets. US markets have ended in the green with gains of around 0.6 to 0.8 percent.The rally continues in Hang Seng. Over the weekend, China had cut the stamp duty on stocks, so it spurred a rally in Asian markets, particularly Hang Seng and Shanghai.This morning, the strength continues in markets like Hang Seng.Yesterday, in the second half of the trading session, as Reliance Industries stock price came under pressure, markets gave up from the day's high and finally ended closer to 19,300, a gain of about 0.2 percent.The resistance level for a market has emerged to the 50 day moving average aroun d the 19,380 mark, that was also around the intra-day high yesterday.On the way down, 19,200 19,250  has emerged as a support level. On Friday, the Intraday low was 19,229, on Monday, the intra-day low was 19,250. Over the last 10 sessions, Nify has taken support between 19,200 and 19,300 five times.

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29 Aug 2023