IGI Logo

Market Review:

Indian market benchmarks ended deep in the red today. Sectorally, private banks, energy, and consumer durables were the biggest laggards. However, realty stocks managed to stay afloat. The S&P BSE Sensex declined 636.24 points or 0.78% to 80,737.51. The Nifty 50 index dropped 174.10 points or 0.70% to 24,542.50.

Nifty 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 Resistance at 24650. If Nifty closes above that, further upside can be expected towards 24730-24800 mark. On the flip side 24470-24400 will act as strong support levels.

Action: Nifty has an immediate Resistance placed at 24650 and on a decisive close above expect a rise to 24730-24800 levels.

Bank Nifty

Bank Nifty’s next immediate resistance is around 56240 levels on the upside and on a decisive close above expect a rise to 56570-56800. There is an immediate support at 55740-55500 levels.

Technical Call Updates

Please refer disclaimer at https://www.nirmalbang.com/disclaimer.aspx
SEBI Registration number is INH00000176