Nifty has an immediate support placed at 19430 and on a decisive close below expect a fall to 19300-19200 levels - - Nirmal Bang Ltd
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Market Review:
Indian markets ended with modest losses on Thursday. Media, metals and oil & gas shares advanced. On the other hand, FMCG, healthcare and PSU banks were under pressure. The barometer index, the S&P BSE Sensex slipped 307.63 points or 0.47% to 6
Nifty Technical Outlook
Nifty is expected to open on a negative note and likely to witness profit booking during the day. On technical grounds, Nifty has an immediate support at 19430. Any move below the same may extend the fall toward 19300-19200 mark. On the flip side 19670-19750 will act as strong resistance levels. It’s a stock specific market, trade calls with strict stop loss.
Action: Nifty has an immediate support placed at 19430 and on a decisive close below expect a fall to 19300-19200 levels.
Bank Nifty
Bank Nifty’s next immediate support is around 44500 levels on the downside and on a decisive close below expect a fall to 44300-44000. There is an immediate resistance at 45000-45270 levels.
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