Indian market reversed early losses and closed higher on Tuesday - Nirmal Bang Ltd
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Market Review:
Indian market reversed early losses and closed higher on Tuesday. The broader market witnessed mixed performance with sectors like realty, consumer durables, and IT experiencing gains, while oil & gas, media, and PSU banks declined. The S&P BSE Sensex up 305.09 points or 0.42% to 73,095.22. The Nifty 50 index lost 76.30 points or 0.34% to 22,198.35
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 resistance at 22270. If nifty closes above that, further upside can be expected towards 22340-22440 mark. On the flip side 22130-22040 will act as strong support levels. It’s a stock specific market trade calls with strict stop loss.
Action: Nifty has an immediate resistance placed at 22270 and on a decisive close above expect a rise to 22340-22440 levels.
Bank Nifty
Bank Nifty faces an immediate resistance around 46800 levels on the upside and on a decisive close above expect a rise to 47000-47300 There is an immediate support at 46350-46100 levels.
Technical Call Updates
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