Nifty has an immediate Resistance placed at 25170 and on a decisive close above expect a rise to 25240-25300 levels - Nirmal Bang Ltd
Market Review:
Indian market benchmarks closed with strong gains on Thursday. Volatility was elevated due to the weekly expiry of the Nifty F&O series, but optimism prevailed as all sectoral indices on the NSE ended in the green, led by auto, realty, and metal stocks. The S&P BSE Sensex soared 1,200.18 points or 1.48% to 82,530.74. The Nifty 50 index surged 395.20 points or 1.60% to 25,062.10.
Nifty Technical Outlook
Nifty is expected to open on a gap up note and likely to witness positive move during the day. On technical grounds, Nifty has an immediate Resistance at 25170. If Nifty closes below that, further upside can be expected towards 25240-25300 mark. On the flip side 25000-24940 will act as strong support levels.
Action: Nifty has an immediate Resistance placed at 25170 and on a decisive close above expect a rise to 25240-25300 levels.
Bank Nifty
Bank Nifty’s next immediate resistance is around 55640 levels on the upside and on a decisive close above expect a rise to 55870-56000 There is an immediate support at 55200-55000 levels.
Technical Call Updates
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Market is expected to open on a gap up note and likely to witness positive move during the d...
