Nifty has an immediate Resistance at 25300 and on a decisive close above expect a rise to 25370-25440 levels - Nirmal Bang Ltd
Market Review:
Indian benchmark rallied on Tuesday as optimism grew over India-US trade talks and expectations of a US Federal Reserve rate cut. The Nifty closed above 25,200, led by gains in auto, realty and IT stocks. The S&P BSE Sensex rallied 594.95 points or 0.73% to 82,380.69. The Nifty 50 index added 169.90 points or 0.68% to 25,239.10.
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 25300. If Nifty closes above that, further upside can be expected towards 25370-25440 mark. On the flip side 25170-25100 will act as strong support levels.
Action: Nifty has an immediate Resistance at 25300 and on a decisive close above expect a rise to 25370-25440 levels.
Bank Nifty
Bank Nifty’s next immediate resistance is around 55570 levels on the upside and on a decisive close above expect a rise to 55800-56000. There is an immediate support at 55100-54870 levels.
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