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Published on 2/06/2020 9:21:23 AM | Source: Nirmal Bang Ltd

Nifty has an immediate support placed at 9740 and on a decisive close below expect a fall to 9600-9530 levels - Nirmal Bang

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

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Market Review:

Indain markets ended with robust gains on Monday, rising for fourth straight session. Easing of lockdown, better-than-expected GDP numbers and positive global cues boosted market sentiment. The barometer S&P BSE Sensex jumped 879.42 points or 2.71% at 33,303.52. The Nifty 50 index gained 245.85 points or 2.57% at 9,826.15.

 

Nifty Technical Outlook

Nifty is expected to open on a flattish note and likely to witness profit booking during the day. Technically, Nifty is facing a strong resistance of 9940-10050 levels. On the flip side 9740-9600 may act as support levels. Any move below 9740 may extend its fall towards 9600-9530. It’s a stock specific market trade the calls with strict stoploss

 

Action: Nifty has an immediate support placed at 9740 and on a decisive close below expect a fall to 9600-9530 levels.

 

Bank Nifty:

Bank Nifty faces an immediate support around 19500 levels on the downside and on a decisive close below expect a fall to 19180-18800. There is an Immediate resistance at 20230-20500 levels.

 

 

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