Indian markets fell for 3rd day as US-India trade deal uncertainty hit mood - Nirmal Bang Ltd
Market Review:
Indian market benchmarks ended sharply lower today, marking their third straight day of losses as investor sentiment remained fragile amid uncertainty over the US-India trade deal. The market's cautious tone. Realty and private bank stocks bore the brunt of the sell-off, while pharma, healthcare, and FMCG names defied the broader trend and closed in positive territory. The S&P BSE Sensex slipped 572.07 points or 0.70% to 80,891.02. The Nifty 50 index declined 156.10 points or 0.63% to 24,680.90.
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 24570. If Nifty closes below that, further downside can be expected towards 24500-24440 mark. On the flip side 24740-24800 will act as strong resistance levels.
Action: Nifty has an immediate Support at 24570 and on a decisive close below expect a fall to 24500-24440 levels.
Bank Nifty
Bank Nifty’s next immediate support is around 55940 levels on the downside and on a decisive close below expect a fall to 55700-55470. There is an immediate resistance at 56540-56770 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...
