IGI Logo

Market Review:

Indian markets ended slightly higher today, extending gains for the third day. The barometers hit fresh highs early on, boosted by FMCG and IT sector , but profit-booking erased most of those gains.The S&P BSE Sensex, rose 51.69 points or 0.06% to 80,716.55. The Nifty 50 index added 26.30 points or 0.11% to 24,613.00.

Nifty Technical Outlook

Nifty is expected to open on a flattish note and likely to witness range bound move during the day. On technical grounds, Nifty has an immediate resistance at 24670. If nifty closes above that, further upside can be expected towards 24770-24840 mark. On the flip side 24540-24470 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 24670 and on a decisive close above expect a rise to 24770-24840 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 52670 levels on the upside and on a decisive close above expect a rise to 52840-53000 There is an immediate support at 52400-52270 levels.

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