IGI Logo

Market Review:

Indian markets ended with minor losses on Thursday. While real estate stocks extended gains, PSU OMC stocks also performed well. The market is likely waiting for a breakout trigger from state election results ahead of the 2024 general elections.The S&P BSE Sensex declined 5.43 points or 0.01% to 66,017.81. The Nifty 50 index lost 9.85 points or 0.05% to 19,802.

Nifty Technical Outlook

Nifty is expected to open on a flattish note and likely to witness sideways move during the day. On Technical grounds, Nifty has an immediate support at 19770. Any move below the same may extend the fall toward 19700-19660 mark. On the flip side 19840-19900 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 19770 and on a decisive close below expect a fall to 19700-19660 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 43580 levels on the downside and on a decisive close below expect a fall to 43470-43380. There is an immediate resistance at 43780-43900 levels.

Technical Call Updates

Please refer disclaimer at https://www.nirmalbang.com/disclaimer.aspx

SEBI Registration number is INH000001766