Indian markets rebounded after two days of losses on global cues and easing inflation - Nirmal Bang Ltd
Market Review:
Indian Markets rebounded sharply, ending a two-day losing streak amid improved global sentiment and easing domestic inflation. The rally was driven by strong buying in realty, PSU bank, and metal stocks. The S&P BSE Sensex advanced 575.45 points or 0.70% to 82,605.43. The Nifty 50 index rose 178.05 points or 0.71% to 25,323.55
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 25400. If nifty closes above that, further upside can be expected towards 25500-25640 mark. On the flip side 25270-25200 will act as strong support levels. It’s a stock specific market trade calls with strict stop loss.
Action: Nifty has an immediate Resistance at 25400 and on a decisive close above expect a rise to 25500-25640 levels.
Bank Nifty
Bank Nifty’s next immediate resistance is around 57180 levels on the upside and on a decisive close above expect a rise to 57500-57680. There is an immediate support at 56740-56400 levels.
Technical Call Updates
Please refer disclaimer at https://www.nirmalbang.com/disclaimer.aspx
SEBI Registration number is INH00000176
