Nifty has an immediate resistance placed at 19600 and on a decisive close above expect a rise to 19670-19700 levels - Nirmal Bang Ltd
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Market Review:
Indian markets managed to break a two-day losing streak on Thursday, as positive signal from global markets. Media and IT shares were in demand, while PSU banks and healthcare stocks declined. The S&P BSE Sensex jumped 405.53 points or 0.62% to 65,631.57. The Nifty 50 index advanced 109.65 points or 0.56% to 19,545.75.
Nifty Technical Outlook
Nifty is expected to open positive note and likely to witness positive move during the day. On technical grounds, Nifty has an immediate resistance at 19600. If nifty closes above that, further upside can be expected towards 19670-19700 mark. On the flip side 19500-19440 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 19600 and on a decisive close above expect a rise to 19670-19700 levels.
Bank Nifty
Bank Nifty faces an immediate resistance around 44550 levels on the upside and on a decisive close above expect a rise to 44680-44820. There is an immediate support at 44280-44140 levels.
Technical Call Updates
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