IGI Logo

Market Review:

Indian markets experienced significant declines on Thursday. Pharma and healthcare stocks witnessed increased demand, banks and financial services stocks faced a decline. The S&P BSE Sensex tumbled 542.10 points or 0.82% to 65,240.68. The Nifty 50 index lost 144.90 points or 0.74% to 19,381.65.

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 support at 19270. Any move below the same may extend the fall toward 19150-19080 mark. On the flip side 19500-19620 will act as strong resistance levels. It’s a stock specific market, trade calls with strict stop loss.

Action: Nifty has an immediate support placed at 19270 and on a decisive close below expect a fall to 19150-19080 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 44400 levels on the downside and on a decisive close below expect a fall to 44000-43770. There is an immediate resistance at 45000-45240 levels.

Technical Call Updates

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at https://www.nirmalbang.com/disclaimer.aspx
SEBI Registration number is INH000001766

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer