Indian market benchmarks indices kicked off the week on a positive note, snapping a two-day losing streak - Nirmal Bang Ltd
Market Review:
Indian market benchmarks indices kicked off the week on a positive note, snapping a two-day losing streak. The Nifty 50 closed comfortably above the 24,700 mark, buoyed by broad-based gains in metal, auto, and IT stocks. The S&P BSE Sensex advanced 418.81 points or 0.52% to 81,018.72. The Nifty 50 index gained 157.40 points or 0.64% to 24,722.75.
Nifty Technical Outlook
Nifty is expected to open on a flattish note and likely to witness sideways move during the day. On technical grounds, Nifty has an immediate Support at 24640. If Nifty closes below that, further downside can be expected towards 24570-24500 mark. On the flip side 24800-24870 will act as strong resistance levels.
Action: Nifty has an immediate Support at 24640 and on a decisive close below expect a fall to 24570-24500 levels.
Bank Nifty
Bank Nifty’s next immediate support is around 55640 levels on the downside and on a decisive close below expect a fall to 55380-55140. There is an immediate resistance at 56100-56340 levels.
Technical Call Updates
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