Nifty has an immediate resistance placed at 17420 - Nirmal Bang
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Market Review:
Indian markets ended with robust gains on Friday. All the sectoral indices on the NSE ended higher. the S&P BSE Sensex zoomed 1,031.43 points or 1.78% to 58,991.52. The Nifty 50 index gained 279.05 points or 1.63% to 17,359.75
Nifty Technical Outlook
Nifty is expected to open on flattish note and likely to witness positive move during the day. On technical grounds, Nifty has an immediate resistance at 17420. If nifty closes above that, further upside can be expected towards 17500/17620. On the flip side 17270/17170 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 17420 and on a decisive close above expect a rise to 17500/17620 levels.
Bank Nifty
Bank Nifty faces an immediate resistance around 41000 levels on the upside and on a decisive close above expect a rise to 41200/41400. There is an immediate support at 40500/40300 levels.
Technical Call Updates
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