Nifty has an immediate resistance placed at 19740 and on a decisive close above expect a rise to 19800-19870 levels - Nirmal Bang Ltd
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Market Review:
Indian markets experienced modest gains on Wednesday, with the Nifty closing above the 19,700 level. Pharma, healthcare and PSU banks stocks were in demand. On the other hand, financial services, private bank and consumer durable stocks were under pressure. The S&P BSE Sensex advanced 173.22 points or 0.26% to 66,118.69. The Nifty 50 index added 51.75 points or 0.26% to 19,716.45
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 19740. If nifty closes above that, further upside can be expected towards 19800-19870 mark. On the flip side 19600-19480 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 19740 and on a
decisive close above expect a rise to 19800-19870 levels
Bank Nifty
Bank Nifty’s immediate support is around 44680 levels on the downside and on a decisive close below expect a fall to 45020-45420. There is an immediate resistance at 44180-43740 levels
Technical Call Updates
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