Industrial Production In November Slowest In 17 Months

January 12, 2019

According to the data by Central Statistics Office (CSO), the Index of Industrial Production (IIP) or generally called as factory output for the month of November 2018 stood at 126.4, which is a mere 0.5% higher as compared to the level in the month of November 2017.

The data released by the CSO under the Ministry of Statistics and Programme Implementation showcases a slowdown in the industrial output as the growth rate crashed to its lowest in 17 months. The Index of Industrial Production (IIP) during the month of November 2017 rose by 8.5 per cent.

The data released by the Central Statistics Office is the last set of key economic input which is presented before the interim budget on 1 February. As per the data, Manufacturing output declined by 0.4 per cent as compared to the 7.9 per cent growth in the previous month. Mining output grew by 2.7 per cent year-on-year in November compared to 7 per cent in October.

The industry group ‘Manufacture of fabricated metal products, except machinery and equipment’ showed the highest negative growth of (-)13.4 per cent followed by (-)9.6 per cent in ‘Manufacture of electrical equipment’ and (-)7.3 per cent in ‘Other manufacturing’.

The cumulative growth for the period April-November 2018 over the corresponding period of the previous year stands at 5.0 per cent.

Read EquityPandit’s Technical Analysis Of Nifty

INDEX OUTLOOK MARKET OUTLOOK NIFTY IT

NIFTY IT Outlook for the Week (June 03, 2024 – June 07, 2024)

CRON USERMay 31, 2024

May 31, 2024

NIFTY IT closed the previous week on a negative note losing 5.69%.

Technically, NIFTY IT share price will see immediate support at 31,702.25 and immediate resistance would be seen at 33,648.50.

If NIFTY IT share price closes below immediate support of 31,702.25, then sharp breakdown can be seen. NIFTY IT share price will see major support at 31,018.40 for the week.

On the positive side, immediate resistance will be seen at 33,648.50. Closing above 33,648.50, NIFTY IT share price will see a sharp breakout. Major resistance for NIFTY IT share price will be seen at 34,910.90 for the week.

Trading range for NIFTY IT share price for this week should be between 29,756.00 on down side and 35,594.75 on up side.

NIFTY IT Previous Week High: 34227.05

NIFTY IT Previous Week Low: 32280.8

NIFTY IT Previous Week Range: 1946.25 Points

NIFTY IT share price support and resistance for the week (June 03, 2024 – June 07, 2024)

Level Type	Value
Resistance 3	35,594.75
Resistance 2	34,910.90
Resistance 1	33,648.50
Support 1	31,702.25
Support 2	31,018.40
Support 3	29,756.00

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INDEX OUTLOOK MARKET OUTLOOK NIFTY IT

NIFTY IT Outlook for the Week (May 27, 2024 – May 31, 2024)

CRON USERMay 24, 2024

May 24, 2024

NIFTY IT closed the previous week on a negative note losing 2.66%.

Technically, NIFTY IT share price will see immediate support at 33,311.35 and immediate resistance would be seen at 34,217.65.

If NIFTY IT share price closes below immediate support of 33,311.35, then sharp breakdown can be seen. NIFTY IT share price will see major support at 32,798.40 for the week.

On the positive side, immediate resistance will be seen at 34,217.65. Closing above 34,217.65, NIFTY IT share price will see a sharp breakout. Major resistance for NIFTY IT share price will be seen at 34,611.00 for the week.

Trading range for NIFTY IT share price for this week should be between 32,405.05 on down side and 35,123.95 on up side.

NIFTY IT Previous Week High: 34098.05

NIFTY IT Previous Week Low: 33191.75

NIFTY IT Previous Week Range: 906.3 Points

NIFTY IT share price support and resistance for the week (May 27, 2024 – May 31, 2024)

Level Type	Value
Resistance 3	35,123.95
Resistance 2	34,611.00
Resistance 1	34,217.65
Support 1	33,311.35
Support 2	32,798.40
Support 3	32,405.05

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INDEX OUTLOOK MARKET OUTLOOK NIFTY IT

NIFTY IT Outlook for the Week (May 20, 2024 – May 24, 2024)

CRON USERMay 17, 2024

May 17, 2024

NIFTY IT closed the previous week on a negative note losing 3.25%.

Technically, NIFTY IT share price will see immediate support at 32,778.50 and immediate resistance would be seen at 33,875.95.

If NIFTY IT share price closes below immediate support of 32,778.50, then sharp breakdown can be seen. NIFTY IT share price will see major support at 32,175.15 for the week.

On the positive side, immediate resistance will be seen at 33,875.95. Closing above 33,875.95, NIFTY IT share price will see a sharp breakout. Major resistance for NIFTY IT share price will be seen at 34,370.05 for the week.

Trading range for NIFTY IT share price for this week should be between 31,681.05 on down side and 34,973.40 on up side.

NIFTY IT Previous Week High: 33766.7

NIFTY IT Previous Week Low: 32669.25

NIFTY IT Previous Week Range: 1097.45 Points

NIFTY IT share price support and resistance for the week (May 20, 2024 – May 24, 2024)

Level Type	Value
Resistance 3	34,973.40
Resistance 2	34,370.05
Resistance 1	33,875.95
Support 1	32,778.50
Support 2	32,175.15
Support 3	31,681.05

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INDEX OUTLOOK MARKET OUTLOOK NIFTY IT

NIFTY IT Outlook for the Week (May 13, 2024 – May 17, 2024)

CRON USERMay 10, 2024

May 10, 2024

NIFTY IT closed the previous week on a negative note losing 2.20%.

Technically, NIFTY IT share price will see immediate support at 32,639.30 and immediate resistance would be seen at 33,378.25.

If NIFTY IT share price closes below immediate support of 32,639.30, then sharp breakdown can be seen. NIFTY IT share price will see major support at 32,343.45 for the week.

On the positive side, immediate resistance will be seen at 33,378.25. Closing above 33,378.25, NIFTY IT share price will see a sharp breakout. Major resistance for NIFTY IT share price will be seen at 33,821.35 for the week.

Trading range for NIFTY IT share price for this week should be between 31,900.35 on down side and 34,117.20 on up side.

NIFTY IT Previous Week High: 33525.5

NIFTY IT Previous Week Low: 32786.55

NIFTY IT Previous Week Range: 738.95 Points

NIFTY IT share price support and resistance for the week (May 13, 2024 – May 17, 2024)

Level Type	Value
Resistance 3	34,117.20
Resistance 2	33,821.35
Resistance 1	33,378.25
Support 1	32,639.30
Support 2	32,343.45
Support 3	31,900.35

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INDEX OUTLOOK MARKET OUTLOOK NIFTY IT

NIFTY IT Outlook for the Week (May 06, 2024 – May 10, 2024)

CRON USERMay 3, 2024

May 3, 2024

NIFTY IT closed the previous week on a negative note losing 3.26%.

Technically, NIFTY IT share price will see immediate support at 32,468.32 and immediate resistance would be seen at 33,570.67.

If NIFTY IT share price closes below immediate support of 32,468.32, then sharp breakdown can be seen. NIFTY IT share price will see major support at 32,028.23 for the week.

On the positive side, immediate resistance will be seen at 33,570.67. Closing above 33,570.67, NIFTY IT share price will see a sharp breakout. Major resistance for NIFTY IT share price will be seen at 34,232.93 for the week.

Trading range for NIFTY IT share price for this week should be between 31,365.97 on down side and 34,673.02 on up side.

NIFTY IT Previous Week High: 33792.85

NIFTY IT Previous Week Low: 32690.5

NIFTY IT Previous Week Range: 1102.35 Points

NIFTY IT share price support and resistance for the week (May 06, 2024 – May 10, 2024)

Level Type	Value
Resistance 3	34,673.02
Resistance 2	34,232.93
Resistance 1	33,570.67
Support 1	32,468.32
Support 2	32,028.23
Support 3	31,365.97

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