Indian market benchmarks ended lower on Wednesday, marking a second consecutive day of losses - Nirmal Bang Ltd
Market Review:
Indian market benchmarks ended lower on Wednesday, marking a second consecutive day of losses. The Nifty slipped below the 24,600 mark, weighed down by losses in pharma, healthcare and IT stocks. The S&P BSE Sensex declined 166.26 points or 0.21% to 80,543.99. The Nifty 50 index fell 75.35 points or 0.31% to 24,574.20. The Sensex declined 0.59% and the Nifty shed 0.60%.
Nifty Technical Outlook
Nifty is expected to open on a negative note and likely to witness negative move during the day. On technical grounds, Nifty has an immediate Support at 24500. If Nifty closes below that, further downside can be expected towards 24440-24370 mark. On the flip side 24640-24700 will act as strong resistance levels.
Action: Nifty has an immediate Support at 24500 and on a decisive close below expect a fall to 24440-24370 levels.
Bank Nifty
Bank Nifty’s next immediate support is around 55340 levels on the downside and on a decisive close below expect a fall to 55100-54870. There is an immediate resistance at 55800-56070 levels.
Technical Call Updates
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