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Market Review:

Indian markets ended a volatile session lower on Thursday. Banks and auto stocks tumbled, while pharma and healthcare stocks advanced. Trading was volatile as the July 2023 F&O contracts expired today, 27 July 2023.The S&P BSE Sensex declined 440.38 points or 0.66% to 66,266.82. The Nifty 50 index lost 118.40 points or 0.60% to 19,659.90

Nifty Technical Outlook

Nifty is expected to open gap down and likely to witness profit booking during the day. On technical grounds, Nifty has an immediate support at 19600. Any move below the same may extend the fall toward 19470-19300 mark. On the flip side 19840 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 19600 and on a decisive close below expect a fall to 19470-19300 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 45280 levels on the downside and on a decisive close below expect a fall to 44940-44700. There is an immediate resistance at 46240-46660 levels.

Technical Call Updates

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