Nifty has an immediate Support at 24540 and on a decisive close below expect a fall to 24470-24400 levels - Nirmal Bang Ltd
Market Review:
Indian benchmark staged a strong comeback on Monday, snapping a three-day losing streak, as upbeat GDP data. The Nifty closed above the 24,600 mark, powered by gains in auto and consumer durables stocks. The S&P BSE Sensex advanced 554.84 points or 0.70% to 80,364.49. The Nifty 50 index added 198.20 points or 0.81% to 24,625.05.
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 24540. If Nifty closes below that, further downside can be expected towards 24470-24400 mark. On the flip side 24700-24770 will act as strong resistance levels.
Action: Nifty has an immediate Support at 24540 and on a decisive close below expect a fall to 24470-24400 levels.
Bank Nifty
Bank Nifty’s next immediate support is around 54130 levels on the downside and on a decisive close below expect a fall to 53900-53670. There is an immediate resistance at 54600-54840 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 ...
