IGI Logo

Market Review:

Indian markets reversed early gains to end lower on Tuesday, marking the third consecutive day of losses. Banking and financial stocks led the decline.The S&P BSE Sensex, was down 166.33 points or 0.21% to 78,593.07. The Nifty 50 index lost 63.05 points or 0.26% to 23,992.55.

Nifty Technical Outlook

Nifty is expected to open gap up and likely to witness positive move during the day. On technical grounds, Nifty has an immediate resistance at 24140. If nifty closes above that, further upside can be expected towards 24240-24350 mark. On the flip side 23900-23770 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 24140 and on a decisive close above expect a rise to 24240-24350 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 50400 levels on the upside and on a decisive close above expect a rise to 50870-51240 There is an immediate support at 49670-49400 levels.

Please refer disclaimer at https://www.nirmalbang.com/disclaimer.aspx
SEBI Registration number is INH000001766