IGI Logo

Market Review:

Indian benchmark ended marginally higher on Wednesday, with the benchmarks extending their winning run to a fifth straight session. Gains were led by strong buying in IT, realty, and FMCG counters, helping the Nifty close above the 25,000 mark. The S&P BSE Sensex advanced 213.45 points or 0.26% to 81,857.84. The Nifty 50 index added 69.90 points or 0.28% to 25,050.55.

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 25140. If Nifty closes above that, further upside can be expected towards 25200-25270 mark. On the flip side 24970-24900 will act as strong support levels.

Action: Nifty has an immediate Resistance at 25140 and on a decisive close above expect a rise to 25200-25270 levels.

Bank Nifty

Bank Nifty’s next immediate resistance is around 56040 levels on the upside and on a decisive close above expect a rise to 56300-56540. There is an immediate support at 55570-55340 levels.

Technical Call Updates

Please refer disclaimer at https://www.nirmalbang.com/disclaimer.aspx
SEBI Registration number is INH00000176