Nifty has an immediate resistance placed at 19380 and on a decisive close above expect a rise to 19500-19600 levels - Nirmal Bang Ltd
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Market Review:
Indian markets managed to make slight gains on Monday. The Nifty Realty, Pharma, and Healthcare indices outperformed the Nifty 50 while the Nifty IT, FMCG, and Oil & Gas indices underperformed. The barometer index, the S&P BSE Sensex gained 110.09 points or 0.17% to 64,996.60. The Nifty 50 index added 40.25 points or 0.21% to 19,306.05.
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 19380. If nifty closes above that, further upside can be expected towards 19500-19600 mark. On the flip side 19230-19150 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 19380 and on a decisive close above expect a rise to 19500-19600 levels.
Bank Nifty
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