Bank Nifty is expected to open on a gap up note and likely to witness positive move during the day - Nirmal Bang Ltd
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MARKET REVIEW
* Equity benchmarks slipped for a third consecutive session, closing with moderate losses after a volatile day shaped by monthly derivatives expiry
* PSU banks and metal counters found buyers, but consumer durables and IT stocks remained under pressure.
* The S&P BSE Sensex, tumbled 313.70 points or 0.37% to 84,587.01. The Nifty 50 index fell 74.70 points or 0.29% to 25,884.80.
NIFTY CHART
NIFTY TECHNICAL OUTLOOK
* Nifty is expected to open on a gap up note and likely to witness positive move during the day.
* On technical grounds, Nifty has an immediate Resistance at 26100. If Nifty closes above that, further upside can be expected towards 26170-26270 mark.
* On the flip side 25800-25750 will act as strong support levels.
BANK NIFTY CHART
BANK NIFTY TECHNICAL OUTLOOK
* Bank Nifty is expected to open on a gap up note and likely to witness positive move during the day.
* Bank Nifty’s next immediate resistance is around 59100 levels on the upside and on a decisive close above expect a rise to 59330-59500.
* There is an immediate support at 58640-58480 levels.
TECHNICAL CALL UPDATES
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