Bank Nifty is expected to open on a flattish note and likely to witness range bound move during the day - Nirmal Bang Ltd
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MARKET REVIEW
* Equity benchmarks ended with marginal losses yesterday, extending their decline to a third straight session.
* The Nifty, dragged by consumer durables stocks, even as PSU banks, metals and IT shares saw selective buying interest.
* The S&P BSE Sensex fell 120.21 points or 0.14% to 84,559.65. The Nifty 50 index lost 41.55 points or 0.16% to 25,818.55.
NIFTY FUT CHART
NIFTY FUT TECHNICAL OUTLOOK
* Nifty is expected to open on a flattish note and likely to witness range bound move during the day.
* On technical grounds, Nifty has an immediate support at 25800. If Nifty closes below that, further downside can be expected towards 25740-25680 mark.
* On the flip side 25980-26100 will act as strong resistance levels.
BANK NIFTY FUT CHART
BANK NIFTY FUT TECHNICAL OUTLOOK
* Bank Nifty is expected to open on a flattish note and likely to witness range bound move during the day.
* Bank Nifty’s next immediate support is around 58970 levels on the downside and on a decisive close below expect a fall to 58800-58660.
* There is an immediate resistance at 59340-59500 levels.
TECHNICAL CALL UPDATES
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