Nifty has an immediate resistance placed at 18770 - Nirmal Bang
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/12/ec115308a9d7a97c58d695e05623ba55.jpg)
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Market Review:
Indian markets tumbled on Friday. Negative global cues triggered profit selling in domestic shares. The barometer index, the S&P BSE Sensex, fell 415.69 points or 0.66% to 62,868.50. The Nifty 50 index shed 116.40 points or 0.62% to 18,696.10.
Nifty Technical Outlook
Nifty is expected to open on a flattish note and likely to witness sideways move during the day. On technical grounds, Nifty has an immediate resistance at 18770. If nifty closes above that, further upside can be expected towards 18840-19000 mark. On the flip side 18630-18570 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 18770 and on a decisive close above expect a rise to 18840-19000 levels.
Bank Nifty
Bank Nifty faces an immediate resistance around 43640 levels on the upside and on a decisive close above expect a rise to 44000-44240. There is an immediate support at 43000-42770 levels.
Technical Call Updates
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