Indian market benchmarks slipped into the red on Tuesday - Nirmal Bang Ltd
Market Review:
Indian market benchmarks slipped into the red on Tuesday. IT stocks were the lone bright spot, buoyed by a stronger U.S. dollar. All other sectoral indices on the NSE ended lower, with pharma, healthcare, and metal stocks taking the biggest hit. The S&P BSE Sensex declined 212.85 points or 0.26% to 81,583.30. The Nifty 50 index fell 93.10 points or 0.37% to 24,853.40.
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 support at 24770. If Nifty closes below that, further downside can be expected towards 24700-24640 mark. On the flip side 24940-25000 will act as strong resistance levels.
Action: Nifty has an immediate Support at 24770 and on a decisive close below expect a fall to 24700-24640 levels.
Bank Nifty
Bank Nifty’s next immediate support is around 55500 levels on the downside and on a decisive close below expect a fall to 55240-55000. There is an immediate resistance at 56000-56270 levels.
Technical Call Updates
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Market is expected to open on a flattish note and likely to witness range bound move during ...
