Nifty has an immediate Support at 25040 and on a decisive close below expect a fall to 24970-24900 levels - Nirmal Bang Ltd
Market Review:
Indian benchmark closed higher on Friday, with the Nifty 50 ending above 25,100 and marking its eighth straight gain. Metals and financial services stocks gained, while FMCG and PSU banks slipped. Defence shares rallied after authorities began talks for six next-generation submarines. The S&P BSE Sensex added 355.97 points or 0.44% to 81,904.70. The Nifty 50 index rose 108.50 points or 0.43% to 25,114.
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 25040. If Nifty closes below that, further downside can be expected towards 24970-24900 mark. On the flip side 25170-25240 will act as strong resistance levels.
Action: Nifty has an immediate Support at 25040 and on a decisive close below expect a fall to 24970-24900 levels.
Bank Nifty
Bank Nifty’s next immediate support is around 54770 levels on the downside and on a decisive close below expect a fall to 54540-54270. There is an immediate resistance at 55240-55470 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...
