Indian markets closed sharply lower on rising geopolitical tensions - Nirmal Bang Ltd
Market Review:
Indian market benchmarks closed sharply lower today as mounting geopolitical tensions rattled investor confidence. Private banks and real estate stocks bore the brunt of the decline, while PSU banks and consumer durables attracted buying interest. The S&P BSE Sensex, tumbled 880.34 points or 1.10% to 79,454.47. The Nifty 50 index fell 265.80 points or 1.10% to 24,008.
Nifty Technical Outlook
Nifty is expected to open on a gap up note and likely to witness positive move during the day. On technical grounds, Nifty has an immediate Resistance at 24470. If Nifty closes below that, further upside can be expected towards 24540-24600 mark. On the flip side 23940-23870 will act as strong support levels.
Action: Nifty has an immediate Resistance placed at 24470 and on a decisive close above expect a rise to 24540-24600 levels.
Bank Nifty
Bank Nifty’s next immediate resistance is around 54240 levels on the upside and on a decisive close above expect a rise to 54570-54840 There is an immediate support at 53500-53270 levels.
Technical Call Updates
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