Nifty has an immediate support placed at 19630 and on a decisive close below expect a fall to 19570-19500 levels - Nirmal Bang Ltd
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Market Review:
Indian markets ended the day with marginal losses. FMCG, auto, and metal shares advanced, while media, PSU banks, and IT shares lagged. The S&P BSE Sensex, fell 78.22 points or 0.12% to 65,945.47. The Nifty 50 index lost 9.85 points or 0.05% to 19,664.70.
Nifty Technical Outlook
Nifty is expected to open gap down and likely to witness profit booking during the day. On technical grounds, Nifty has an immediate support at 19630. Any move below the same may extend the fall toward 19570-19500 mark. On the flip side 19700-19770 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 19630 and on a decisive close below expect a fall to 19570-19500 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 44380-44250.
There is an immediate resistance at 44810-44960 levels.
Technical Call Updates
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