Indian market benchmark equity indices declined on Monday - Nirmal Bang Ltd
Market Review:
Indian market benchmark equity indices declined on Monday. Realty, energy, and PSU bank stocks led the decline. The S&P BSE Sensex fell 217.41 points or 0.29% to 74,115.17. The Nifty 50 index lost 92.20 points or 0.41%, to 22,460.30.
Nifty Technical Outlook
Nifty is expected to open on a gap down note and likely to witness range bound move during the day. On technical grounds, Nifty has an immediate support at 22370. If Nifty closes below that, further downside can be expected towards 22300-22240 mark. On the flip side 22540-22600 will act as strong resistance levels. It’s a stock specific market trade calls with strict stop loss.
Action: Nifty has an immediate support placed at 22370 and on a decisive close below expect a fall to 22300-22240 levels.
Bank Nifty
Bank Nifty’s next immediate support is around 48000 levels on the downside and on a decisive close below expect a fall to 47740-47500 There is an immediate resistance at 48570-48840
Technical Call Updates
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