Nifty has an immediate Support at 25970 and on a decisive close below expect a fall to 25900-25840 levels - Nirmal Bang Ltd
Market Review:
Indian Markets ended closed with modest gains on Wednesday, lifted by upbeat global cues. The Nifty ended above the 26,050 level, driven by gains in energy and metal stocks. The S&P BSE Sensex, surged 368.97 points or 0.44% to 84,997.13. The Nifty 50 index added 117.70 points or 0.45% to 26,053.90.
Nifty Technical Outlook
Nifty is expected to open on a negative note and likely to witness range bound move during the day. On technical grounds, Nifty has an immediate support at 25970. If Nifty closes below that, further downside can be expected towards 25900-25840 mark. On the flip side 26110-26180 will act as strong resistance levels.
Action: Nifty has an immediate Support at 25970 and on a decisive close below expect a fall to 25900-25840 levels.
Bank Nifty
Bank Nifty’s next immediate support is around 58540 levels on the downside and on a decisive close below expect a fall to 58320-58170. There is an immediate resistance at 58900-59050 levels.
Technical Call Updates
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