Nifty has an immediate Resistance at 24580 and on a decisive close above expect a rise to 24640-24700 levels - Nirmal Bang Ltd
Market Review:
Indian benchmark benchmarks tumbled for a second straight session on Thursday as U.S. tariffs on Indian goods hit sentiment. The Nifty ended near 24,500, dragged lower by IT and financial services stocks. The S&P BSE Sensex slumped 705.97 points, or 0.87%, to 80,080.57, while the Nifty 50 shed 211.15 points, or 0.85%, to 24,500.90. In two trading sessions, the Sensex fell 1.90% and the Nifty dropped 1.86%.
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 24580. If Nifty closes above that, further upside can be expected towards 24640-24700 mark. On the flip side 24440-24370 will act as strong support levels.
Action: Nifty has an immediate Resistance at 24580 and on a decisive close above expect a rise to 24640-24700 levels.
Bank Nifty
Bank Nifty’s next immediate resistance is around 54070 levels on the upside and on a decisive close above expect a rise to 54300-54570. There is an immediate support at 53570-53340 levels.
Technical Call Updates
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Market is expected to open on a flattish note and likely to witness range bound move - Nirma...
