IGI Logo

Market Review:

Indian Market benchmarks ended higher on Monday, breaking a three-session losing streak. The Nifty 50 closed above the 25,550 mark, supported by gains in IT, pharma, and metal stocks. The S&P BSE Sensex, climbed 319.07 points or 0.38% to 83,535.35. The Nifty 50 index added 82.05 points or 0.32% to 25,574.35.

Nifty Technical Outlook

Nifty is expected to open on a positive note and likely to witness positive move during the day. On the upside, a decisive close above 25650 would signal a fresh upside leg opening up toward 25730- 25800. On the flip side, index could drag momentum lower toward 25500-25430. Overall, market lacks a clear directional, traders are advised to adopt a buy on dips mindset near the stronger support band.

Action: Nifty has an immediate Resistance at 25650 and on a decisive close above expect a rise to 25730-25800 levels.

Bank Nifty

Bank Nifty’s next immediate resistance is around 58370 levels on the upside and on a decisive close above expect a rise to 58490-58600. There is an immediate support at 58150-58040 levels.

Technical Call Updates

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