Indian Market benchmarks ended the day almost unchanged on Thursday.- Nirmal Bang Ltd
Market Review:
Indian Market benchmarks ended the day almost unchanged on Thursday. Although both benchmarks stayed slightly in the green and extended their winning streak to a fourth session. Metal and pharma stocks edged higher, while PSU banks and FMCG shares declined, leaving sectoral moves mixed. The S&P BSE Sensex added 12.16 points or 0.01% to 84,478.67. The Nifty 50 index rose 3.35 points or 0.01% to 25,879.15.
Nifty Technical Outlook
Nifty is expected to open on a negative note and likely to witness range bound move during the day. On technical grounds, Nifty has an immediate support at 25780. If Nifty closes below that, further downside can be expected towards 25700-25590 mark. On the flip side 25990-26100 will act as strong resistance levels. Overall, bias is positive alongside higher rsi levels, a decisive sustenance above the 26000 level is needed to establish the positive uptrend.
Action: Nifty has an immediate Support at 25780 and on a decisive close below expect a fall to 25700-25590 levels.
Bank Nifty
Bank Nifty’s next immediate support is around 58330 levels on the downside and on a decisive close below expect a fall to 58140-57920. There is an immediate resistance at 58750-58970 levels.
Technical Call Updates
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