Nifty has an immediate support placed at 19600 and on a decisive close below expect a fall to 19540-19470 levels - Nirmal Bang Ltd
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Market Review:
Indian markets concluded the day almost flat, putting an end to a fourday losing streak. The performance of European and Asian indices remained sluggish, which limited the overall gains. The S&P BSE Sensex rose 14.54 points or 0.02% to 66,023.69. The Nifty 50 index added 0.30 points to 19,674.55.
Nifty Technical Outlook
Nifty is expected to open on a negative note and likely to remain cautious during the day. On technical grounds, Nifty has an immediate support at 19600. Any move below the same may extend the fall toward 19540-19470 mark. On the flip side 19740-19800 will act as strong resistance levels. It’s a stock specific market, trade calls with strict stop loss
Action: Nifty has an immediate support placed at 19600 and on a decisive close below expect a fall to 19540-19470 levels.
Bank Nifty
Bank Nifty’s immediate support is around 44520 levels on the downside and on a decisive close below expect a fall to 44240-44000. There is an immediate resistance at 45050-45280 levels
Technical Call Updates
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Pre-market comment by Deven Mehata, Research Analyst, Choice Broking Ltd
