Indian market benchmarks closed with moderate losses yesterday - Nirmal Bang Ltd
Market Review:
Indian market benchmarks closed with moderate losses yesterday. The Nifty 50 slipped below the 25,500 mark, dragged down by financial services and PSU bank stocks. On the other hand, metal and consumer durables stocks witnessed buying interest. The S&P BSE Sensex declined by 287.60 points or 0.34% to close at 83,409.69, while the Nifty 50 shed 88.40 points or 0.35% to end at 25,453.40.
Nifty Technical Outlook
Nifty is expected to open on a flattish note and likely to witness a range bound move during the day. On technical grounds, Nifty has an immediate resistance at 25540. If Nifty closes above that, further upside can be expected towards 25600-25670 mark. On the flip side 25470-25400 will act as strong support levels.
Action: Nifty has an immediate Resistance at 25540 and on a decisive close above expect a rise to 25600-25670 levels.
Bank Nifty
Bank Nifty’s next immediate resistance is around 57540 levels on the upside and on a decisive close above expect a rise to 57770-58000. There is an immediate support at 57140-56870 levels.
Technical Call Updates
Please refer disclaimer at https://www.nirmalbang.com/disclaimer.aspx
SEBI Registration number is INH00000176
