IGI Logo

Market Review:

Indian markets had a volatile trading session on Tuesday, equity indices initially showed a downward trend but managed to recover most of their losses by the end of the day. The pharma sector performed well, while the real estate segment faced profit booking. The S&P BSE Sensex declined 16.29 points or 0.03% to 64,942.40. The Nifty 50 index lost 5.05 points or 0.03% to 19,406.70.

Nifty Technical Outlook

Nifty is expected to open gap up note and likely to witness positive move during the day. On technical grounds, Nifty has an immediate resistance at 19470. If nifty closes above that, further upside can be expected towards 19550-19640 mark. On the flip side 19330-19250 will act as strong support levels. It’s a stock specific market trade calls with strict stop loss.

Action: Nifty has an immediate resistance placed at 19470 and on a decisive close above expect a rise to 19550-19640 levels

Bank Nifty

Bank Nifty faces an immediate resistance around 44200 levels on the upside and on a decisive close above expect a rise to 44500-44670. There is an immediate support at 43740-43550 levels.

Technical Call Updates

Please refer disclaimer at https://www.nirmalbang.com/disclaimer.aspx

SEBI Registration number is INH000001766