IGI Logo

Market Review:

Indian market benchmarks closed with slight losses on Thursday. All major indices, except banking, finished lower, with realty, auto, and metal sectors experiencing the steepest declines. The S&P BSE Sensex declined 200.85 points, or 0.27%, to 73,828.91. The Nifty 50 index lost 73.30 points, or 0.33%, to 22,397.20.

Nifty Technical Outlook

Nifty is expected to open on a gap up note and likely to witness positive move during the day. On technical grounds, Nifty has an immediate resistance at 22540. If nifty closes above that, further upside can be expected towards 22600-22670 mark. On the flip side 22340-22270 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 22540 and on a decisive close above expect a rise to 22600-22670 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 48370 levels on the upside and on a decisive close above expect a rise to 48600- 48840.There is an immediate support at 47840-47600 levels.

Technical Call Updates

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