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Market Review:

Indian market benchmarks ended with marginal losses today, marking the third straight session of decline. On the sectoral front, barring Nifty Auto, all indices on the NSE ended in the red, with PSU banks, realty, and media stocks leading the losses. The S&P BSE Sensex shed 82.79 points or 0.10% to 81,361.87. The Nifty 50 index fell 18.80 points or 0.08% to 24,793.25.

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 24740. If Nifty closes below that, further downside can be expected towards 24670-24600 mark. On the flip side 24870-24940 will act as strong resistance levels.

Action: Nifty has an immediate Support at 24740 and on a decisive close below expect a fall to 24670-24600 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 55470 levels on the downside and on a decisive close below expect a fall to 55240-55000. There is an immediate resistance at 55900-56170 levels.

Technical Call Updates

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