If we converse about yesterday’s session then the indices concluded on a flat note on the expiry day of futures and options. After the bell, Nifty50 grew with 2.20 points and settled at 16636.90. Furthermore, Sensex concluded with 4.89 points up and settled at 55,949.10.
Worldwide, Investors are waiting for the Fed Reserve’s Jackson Hole Economic Symposium. However, their comments and speeches would shake the market all over the world.
From the broader market perspective, both mid-cap and small-cap indices outperformed thereby adding 0.3 percent individually.
On the Sectoral front, leaving energy and FMCG all the other leftover indices concluded in red thereby shedding more than a percent.
Technical Outlook on Nifty and Bank Nifty Futures
Nifty50 futures has support at 16550 and resistance at 16750.
On the other hand, Bank Nifty has support at 35400—34850 and resistance at 36000—36300.
Traders can trade in a limited range for time being. Either side break or close with volume will decide further.
FMCG stock looks positive for the day. We expect more upside rallies in the stocks like Britannia, Hindunilver, etc.