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MARKET REVIEW

* Equity benchmark equity indices Sensex and Nifty slipped on Friday, snapping a three-day rally.

*The Nifty closed below the 25,350 level, dragged down by losses in metal, IT and private banking stocks.

*The S&P BSE Sensex declined 296.59 points or 0.36% to 82,269.78. The Nifty 50 index lost 98.25 points or 0.39% to 25,320.65.

NIFTY FUT CHART

Nifty is expected to open on a range bound note and likely to witness sideways move during the day. 

On technical grounds, Nifty has an immediate resistance at 25490. If Nifty closes above that, further upside can be expected towards 25570-25640 mark.

On the flip side 25340-25270 will act as strong support levels.

BANK NIFTY FUT CHART

Bank Nifty is expected to open on a range bound note and likely to witness sideways move during the day.

Bank Nifty’s next immediate resistance is around 60140 levels on the upside and on a decisive close above expect a rise to 60370-60500.

• There is an immediate support at 59700-59500 levels.

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