Indian market continued their upward trend for the sixth day on Tuesday - Nirmal Bang Ltd
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Market Review:
Indian market continued their upward trend for the sixth day on Tuesday, driven by gains in private banks. There was increased demand for bank, financial services, and media shares, while IT, auto, and metal shares experienced declines. The S&P BSE Sensex gained 349.24 points or 0.48% to 73,057.40. The Nifty 50 index added 74.70 points or 0.34% to 22,196.95.
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 22240. If nifty closes above that, further upside can be expected towards 22300-22400 mark. On the flip side 22100-22000 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 22240 and on a decisive close above expect a rise to 22300-22400 levels.
Bank Nifty
Bank Nifty faces an immediate resistance around 47450 levels on the upside and on a decisive close above expect a rise to 47700-48000 There is an immediate support at 46700-46200 levels.
Technical Call Updates
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