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 closed sharply lower on Tuesday, extending losses for a second straight session.
* Banking stocks led the decline, dragging the Nifty below the 25,900 mark.
* The S&P BSE Sensex tumbled 533.50 points or 0.63% to 84,679.86. The Nifty 50 index lost 167.20 points or 0.64% to 25,860.10.
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 25850. If Nifty closes below that, further downside can be expected towards 25780-25700 mark.
* On the flip side 26000-26100 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 59140 levels on the downside and on a decisive close below expect a fall to 59000-58770.
* There is an immediate resistance at 59500-59740 levels.
TECHNICAL CALL UPDATES
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