Nifty has an immediate Support at 24300 and on a decisive close below expect a fall to 24240-24170 levels - Nirmal Bang Ltd
Market Review:
Indian market benchmarks ended sharply lower on friday as traders stayed cautious following President Donald Trump’s tariff hike announcement. The Nifty slipped below the 24,400 mark, with realty, consumer durables, and metals shares leading the sell-off. The S&P BSE Sensex took a hit, dropping 765.47 points, or 0.95%, to close at 79,857.79. The Nifty 50 followed suit, slipping 232.85 points, also 0.95%, to finish at 24,363.30.
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 Support at 24300. If Nifty closes below that, further downside can be expected towards 24240-24170 mark. On the flip side 24440-24500 will act as strong resistance levels.
Action: Nifty has an immediate Support at 24300 and on a decisive close below expect a fall to 24240-24170 levels.
Bank Nifty
Bank Nifty’s next immediate support is around 54940 levels on the downside and on a decisive close below expect a fall to 54670-54440. There is an immediate resistance at 55400-55640 levels.
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