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Published on 29/07/2021 8:36:02 AM | Source: Nirmal Bang Ltd

Nifty has an immediate support placed at 15600 and on a decisive close below expect a fall to 15500-15420 levels - Nirmal Bang

Posted in Market Outlook| #Nirmal Bang Ltd #Market Outlook

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Market Review:

Indian markets ended a volatile trading session with minor cuts on Wednesday. The Nifty recovered from the day's low managed to close above 15,700 mark after hitting a day's low of 15,513.45. PSU Banks declined the most, followed by auto and realty stocks. The S&P BSE Sensex, fell 135.05 points or 0.26% to 52,443.71. The Nifty 50 index lost 37.05 points or 0.24% to 15,709.40.

Nifty Technical Outlook

Nifty is expected to open on a flattish note and likely to witness sideways move during the day. On technical grounds, Nifty has an immediate support at 15600. Any move below the same may extend the fall towards 15500-15420 mark. On the flip side 15800-15920 will act as strong resistance zones. It’s a stock specific market and trade calls with strict stop loss.

Action: Nifty has an immediate support placed at 15600 and on a decisive close below expect a fall to 15500-15420 levels.

 

Bank Nifty

Bank Nifty faces an immediate support around 34270 level on the downside and on a decisive close below expect a fall to 34000-33720. There is an Immediate resistance at 34900-35200 levels.

 

Technical Call Updates

 


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