Nifty has an immediate Support at 25070 and on a decisive close below expect a fall to 24970-24900 levels - Nirmal Bang Ltd
Market Review:
Indian market ended with minor losses on Tuesday, marking their third straight session of decline. The Nifty settled below the 25,200 mark after a range bound session, with PSU banks, metals and auto stocks finding buyers while FMCG and IT shares came under pressure. The S&P BSE Sensex shed 57.87 points or 0.07% to 82,102.10. The Nifty 50 index lost 32.85 points or 0.13% to 25,169.50.
Nifty Technical Outlook
Nifty is expected to open on a negative note and likely to witness negative move during the day. On technical grounds, Nifty has an immediate support at 25070. If Nifty closes below that, further downside can be expected towards 24970-24900 mark. On the flip side 25260-25350 will act as strong resistance levels.
Action: Nifty has an immediate Support at 25070 and on a decisive close below expect a fall to 24970-24900 levels.
Bank Nifty
Bank Nifty’s next immediate support is around 55440 levels on the downside and on a decisive close below expect a fall to 55170-54940. There is an immediate resistance at 55900-56100 levels.
Technical Call Updates
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