Nifty has an immediate Resistance placed at 24740 and on a decisive close above expect a rise to 24800-24870 levels - Nirmal Bang Ltd
Market Review:
Indian market ended sharply lower yesterday, logging a third consecutive session of losses. All NSE sectoral indices closing in the red. Auto, FMCG, and pharma stocks bore the brunt of the sell-off, leading the market-wide decline. The S&P BSE Sensex, tumbled 872.98 points or 1.06% to 81,186.44. The Nifty 50 index declined 261.55 points or 1.05% to 24,683.90.
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 24740. If Nifty closes below that, further upside can be expected towards 24800-24870 mark. On the flip side 24600-24540 will act as strong support levels.
Action: Nifty has an immediate Resistance placed at 24740 and on a decisive close above expect a rise to 24800-24870 levels.
Bank Nifty
Bank Nifty’s next immediate resistance is around 55340 levels on the upside and on a decisive close above expect a rise to 55570-55800 There is an immediate support at 54870-54600 levels.
Technical Call Updates
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Market is expected to open on a flattish note and likely to witness range bound move during ...
