Indian market benchmarks took a breather on Tuesday - Nirmal Bang Ltd
Market Review:
Indian market benchmarks took a breather on Tuesday. Back on Dalal Street, the Nifty closed below the 24,600 mark, dragged down by IT, FMCG, and auto stocks. On the flip side, PSU banks, pharma, and defense stocks showed resilience, managing to close in the green. The S&P BSE Sensex tanked 1,281.68 points or 1.55% to 81,148.22. The Nifty 50 index slumped 346.35 points or 1.39% to 24,578.35.
Nifty Technical Outlook
Nifty is expected to open on a positive note and likely to witness positive move during the day. On technical grounds, Nifty has an immediate Resistance at 24670. If Nifty closes below that, further upside can be expected towards 24740-24800 mark. On the flip side 24500-24440 will act as strong support levels.
Action: Nifty has an immediate Resistance placed at 24670 and on a decisive close above expect a rise to 24740-24800 levels.
Bank Nifty
Bank Nifty’s next immediate resistance is around 55340 levels on the upside and on a decisive close above expect a rise to 55600-55840 There is an immediate support at 54770-54500 levels.
Technical Call Updates
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Market is expected to open on a positive note and likely to witness positive move during the...
