Indian market benchmarks slipped further on Thursday, extending losses for a second consecutive session - Nirmal Bang Ltd
Market Review:
Indian market benchmarks slipped further on Thursday, extending losses for a second consecutive session. The Nifty 50 ended below the psychologically important 25,400 mark. Selling pressure was visible across key sectors, with PSU banks, IT, and FMCG stocks leading the decline. The S&P BSE Sensex declined 345.80 points or 0.41% to 83,190.28. The Nifty 50 index fell 120.85 points or 0.47% to 25,355.25.
Nifty Technical Outlook
Nifty is expected to open on a gap down note and likely to witness a range bound move during the day. On technical grounds, Nifty has an immediate support at 25240. If Nifty closes below that, further downside can be expected towards 25170-25100 mark. On the flip side 25440-25570 will act as strong resistance levels.
Action: Nifty has an immediate Support at 25240 and on a decisive close below expect a fall to 25170-25100 levels.
Bank Nifty
Bank Nifty’s next immediate support is around 57000 levels on the downside and on a decisive close below expect a fall to 56740-56500. There is an immediate resistance at 57440-57700 levels.
Technical Call Updates
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Market is expected to open on a gap down note and likely to witness a range bound move durin...
