Nifty has an immediate resistance placed at 19500 and on a decisive close above expect a rise to 19580-19650 levels - Nirmal Bang Ltd
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Market Review:
Indian markets ended with moderate losses, marking the second consecutive trading session decline. On the sector front, IT and FMCG shares were in demand, while PSU banks and realty shares were under pressure. The S&P BSE Sensex slipped 286.06 points or 0.44% to 65,226.04. The Nifty 50 index shed 92.65 points or 0.47% to 19,436.10.
Nifty Technical Outlook
Nifty is expected to open on a flattish note and likely to witness sideways move during the day. On technical grounds, Nifty has an immediate resistance at 19500. If nifty closes above that, further upside can be expected towards 19580-19650 mark. On the flip side 19350-19270 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 19500 and on a decisive close above expect a rise to 19580-19650 levels.
Bank Nifty
Bank Nifty faces an immediate resistance around 44390 levels on the upside and on a decisive close above expect a rise to 44560-44740. There is an immediate support at 44050-43880 levels.
Technical Call Updates
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