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Market Review:

Indian market benchmarks ended the day with modest gains. IT, consumer durables, and energy stocks were among the top gainers, reflecting sector-specific optimism. In contrast, pharma and metal stocks came under pressure, capping broader market upside. The S&P BSE Sensex added 70.01 points or 0.09% to 80,288.38. The Nifty 50 index rose 7.45 points or 0.03% to 24,335.95.

Nifty Technical Outlook

Nifty is expected to open on a gap down and likely to witness range bound move during the day. On technical grounds, Nifty has an immediate support at 24240. If Nifty closes below that, further downside can be expected towards 24170-24100 mark. On the flip side 24400-24470 will act as strong resistance levels.

Action: Nifty has an immediate support placed at 24240 and on a decisive close below expect a fall to 24170-24100 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 55240 levels on the downside and on a decisive close below expect a fall to 55000-54770 There is an immediate resistance at 55740-56000 levels.

Technical Call Updates

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