Nifty has an immediate resistance placed at 24370 and on a decisive close above expect a rise to 24440-24500 levels by Nirmal Bang Ltd
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Market Review:
Indian markets surged yesterday.Private banks, led by HDFC Bank, emerged as major gainers. The upcoming budget, with its potential for expanded PLI schemes in various sectors, further fueled optimism.The S&P BSE Sensex was up 545.35 points or 0.69% to 79,986.80. The Nifty 50 index gained 162.65 points or 0.67% to 24,286.50.
Nifty Technical Outlook
Nifty is expected to open on a gap up note and likely to witness positive move during the day. On technical grounds, Nifty has an immediate resistance at 24370. If nifty closes above that, further upside can be expected towards 24440-24500 mark. On the flip side 24200-24140 will act as strong support levels. It’s a stock specific market trade calls with strict stop loss.
Action: Nifty has an immediate resistance placed at 24370 and on a decisive close above expect a rise to 24440-24500 levels.
Bank Nifty
Bank Nifty faces an immediate resistance around 53370 levels on the upside and on a decisive close above expect a rise to 53640-53800 There is an immediate support at 52700-52340 levels.
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