Nifty has an immediate Resistance at 25070 and on a decisive close above expect a rise to 25140-25200 levels - Nirmal Bang Ltd
Market Review:
Indian benchmark ended higher on Thursday, with the Nifty 50 crossing the 25,000 mark and extending its winning streak to seven sessions. Gains in energy and PSU bank stocks offset profit-taking in IT counters. The S&P BSE Sensex added 123.58 points or 0.15% to 81,548.73. The Nifty 50 index rose 32.40 points or 0.13% to 25,005.50. In the past seven trading sessions, the Nifty 50 index jumped 1.73%.
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 25070. If Nifty closes above that, further upside can be expected towards 25140-25200 mark. On the flip side 24940-24870 will act as strong support levels.
Action: Nifty has an immediate Resistance at 25070 and on a decisive close above expect a rise to 25140-25200 levels.
Bank Nifty
Bank Nifty’s next immediate resistance is around 55100 levels on the upside and on a decisive close above expect a rise to 55370-55500. There is an immediate support at 54640-54400 levels.
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