Indian market indices slipped into the red on Thursday - Nirmal Bang Ltd
Market Review:
Indian market indices slipped into the red on Thursday. The Nifty ended below the 24,280 mark, weighed down by broad-based selling, with realty, metal, and auto stocks bearing the brunt. Barring IT and media, all NSE sectoral indices closed lower. The S&P BSE Sensex slipped 411.97 points or 0.51% to 80,334.81. The Nifty 50 index fell 140.60 points or 0.58% to 24,273.80.
Nifty Technical Outlook
Nifty is expected to open on a gap down note and likely to witness range bound move during the day. On technical grounds, Nifty has an immediate support at 24000. If Nifty closes below that, further downside can be expected towards 23870-23740 mark. On the flip side 24400-24500 will act as strong resistance levels.
Action: Nifty has an immediate support placed at 24000 and on a decisive close below expect a fall to 23870-23740 levels.
Bank Nifty
Bank Nifty’s next immediate support is around 54000 levels on the downside and on a decisive close below expect a fall to 53740-53500 There is an immediate resistance at 54540-54770 levels.
Technical Call Updates
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Market is expected to open on a gap down note and likely to witness range bound move during...
