Nifty has an immediate resistance placed at 25040 and on a decisive close above expect a rise to 25100-25240 levels - Nirmal Bang Ltd
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Market Review:
Indian markets closed higher today, extending their winning streak to four days. At home, metals, pharma, and healthcare stocks climbed, while PSU bank and realty lagged. The S&P BSE Sensex rose 285.94 points or 0.35% to 81,741.34. The Nifty 50 index added 93.85 points or 0.38% to 24,951.15.
Nifty Technical Outlook
Nifty is expected to open on a positive note and likely to witness range bound move during the day. On technical grounds, Nifty has an immediate resistance at 25040. If nifty closes above that, further upside can be expected towards 25100-25240 mark. On the flip side 24870-24800 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 25040 and on a decisive close above expect a rise to 25100-25240 levels.
Bank Nifty
Bank Nifty faces an immediate resistance around 51700 levels on the upside and on a decisive close above expect a rise to 51970-52200 There is an immediate support at 51340-51150 levels.
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