Nifty has an immediate resistance placed at 25000 and on a decisive close above expect a rise to 25100-25170 levels - Nirmal Bang Ltd
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Market Review:
Indian markets bounced back on Friday, ending a five-day slump. The Nifty reclaimed the 24,800 level, led by gains in metals, healthcare, and auto sectors.The S&P BSE Sensex jumped 1,292.92 points or 1.62% to 81,332.72. The Nifty 50 index soared 428.75 points or 1.76% to 24,834.85.
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 25000. If nifty closes above that, further upside can be expected towards 25100-25170 mark. On the flip side 24740-24640 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 25000 and on a decisive close above expect a rise to 25100-25170 levels
Bank Nifty
Bank Nifty faces an immediate resistance around 51570 levels on the upside and on a decisive close above expect a rise to 51870-52140 There is an immediate support at 51000-50740 levels.
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