Indian market benchmarks ended with strong gains yesterday, with the Nifty closing above the 25,200 level - Nirmal Bang Ltd
Market Review:
Indian market benchmarks ended with strong gains yesterday, with the Nifty closing above the 25,200 level. This positive performance was largely attributed to optimistic signals from Asian markets. Auto and private bank stocks witnessed strong buying interest, while realty and media shares experienced a decline. The S&P BSE Sensex advanced 539.83 points or 0.66% to 82,726.64. The Nifty 50 index added 159 points or 0.63% to 25,219.90.
Nifty Technical Outlook
Nifty is expected to open on a flattish note and likely to witness range bound move during the day. On technical grounds, Nifty has an immediate resistance at 25340. If Nifty closes above that, further upside side can be expected towards 25400-25470 mark. On the flip side 25170-25100 will act as strong support levels.
Action: Nifty has an immediate Resistance at 25340 and on a decisive close above expect a rise to 25400-25470 levels.
Bank Nifty
Bank Nifty’s next immediate resistance is around 57500 levels on the upside and on a decisive close above expect a rise to 57770-58000. There is an immediate support at 57000-56770 levels.
Technical Call Updates
Please refer disclaimer at https://www.nirmalbang.com/disclaimer.aspx
SEBI Registration number is INH00000176
