Nifty has an immediate resistance placed at 19560 and on a decisive close above expect a rise to 19640-19700 levels - Nirmal Bang
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Market Review:
Indian markets rebounded with vigor on Friday, ending a three-day losing streak. while IT, private banks, and consumer durables stocks flourished. PSU banks, auto, and FMCG shares faced a decline. Thehe barometer index, the S&P BSE Sensex advanced 480.57 points or 0.74% to 65,721.25. The Nifty 50 index added 135.35 points or 0.70% to 19517.00.
Nifty Technical Outlook
Nifty is expected to open on a Positive note and likely to witness sideways move during the day. On technical grounds, Nifty has an immediate resistance at 19560. If nifty closes above that, further upside can be expected towards 19640-19700 mark. On the flip side 19440-19370 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 19560 and on a decisive close above expect a rise to 19640-19700 levels.
Bank Nifty
Bank Nifty faces an immediate resistance around 45280 levels on the upside and on a decisive close above expect a rise to 45560-45800. There is an immediate support at 44670-44340 levels.
Technical Call Updates
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