Nifty is expected to open on flattish note and likely to witness profit booking during the day - Nirmal Bang
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Market Review:
Indian markets ended ended with minor cuts after a volatile session Thursday. Nifty managed to pare most losses as it settled a tad above the 18,050. Trading was volatile due to the expiry of weekly index options. The Sensex, declined 69.68 points or 0.11% to 60,836.41. The Nifty 50 index lost 30.15 points or 0.17% to 18,052.70
Nifty Technical Outlook
Nifty is expected to open on flattish note and likely to witness profit booking during the day. On technical grounds, Nifty has an immediate support at 18000. Any move below the same may extend the fall toward 17920-17840 mark. On the flip side 18170-18240 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 18000 and on a decisive close below expect a fall to 17920-17840 levels.
Bank Nifty
Bank Nifty’s next immediate support is around 41000 levels on the downside and on a decisive close below expect a fall to 40740-40500. There is an immediate resistance at 41700-41950 levels.
Technical Call Updates
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