Nifty has an immediate resistance placed at 18700 - Nirmal Bang
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Market Review:
Indian markets snapped four-day losing streak on Thursday. The barometer index, the S&P BSE Sensex advanced 160 points or 0.26% to 62,570.68. The Nifty 50 index added 48.85 points or 0.26% to 18,609.35.
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 18700. If nifty closes above that, further upside can be expected towards 18780-18840 mark. On the flip side 18540-18450 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 18700 and on a decisive close above expect a rise to 18780-18840 levels.
Bank Nifty
Bank Nifty faces an immediate resistance around 44000 levels on the upside and on a decisive close above expect a rise to 44270-44540. There is an immediate support at 43370-43000 levels.
Technical Call Updates
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