Bank Nifty Support at 52000; Resistance Seen at 52540-52770 - Nirmal Bang Ltd
Market Review:
Indian market wrapped up the day on a high, riding a wave of optimism from global markets after U.S. President Donald Trump announced import tariff exemptions on electronic goods. The Nifty sailed past the 23,300 mark, supported by broad-based buying across realty, auto, and metal sectors. The S&P BSE Sensex surged 1,577.63 points or 2.16% to 76,734.89. The Nifty 50 index rallied 500 points or 2.19% to 23,328.55.
Nifty Technical Outlook
Nifty is expected to open on a negative and likely to witness range bound move during the day. On technical grounds, Nifty has an immediate support at 23240. If Nifty closes below that, further downside can be expected towards 23170-23100 mark. On the flip side 23400-23500 will act as strong resistance levels.
Action: Nifty has an immediate support placed at 23240 and on a decisive close below expect a fall to 23170-23100 levels.
Bank Nifty
Bank Nifty’s next immediate support is around 52000 levels on the downside and on a decisive close below expect a fall to 51740-51500 There is an immediate resistance at 52540-52770 levels.
Technical Call Updates
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