Nifty has an immediate support placed at 19830 and on a decisive close below expect a fall to 19760-19700 levels - Nirmal Bang Ltd
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Market Review:
Indian markets tanked on Wednesday, sliding for the second consecutive trading session. All the sectoral indices on the NSE ended in the red with metal, financial services and bank stocks declining the most. The S&P BSE Sensex dropped 796 points or 1.18% to 66,800.84. The Nifty 50 index lost 231.90 points or 1.15% to 19,901.40.
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 19830. Any move below the same may extend the fall toward 19760-19700 mark. On the flip side 20000-20120 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 19830 and on a decisive close below expect a fall to 19760-19700 levels.
Bank Nifty
Bank Nifty’s immediate support is around 45390 levels on the downside and on a decisive close below expect a fall to 45210-45000. There is an immediate resistance at 45780-46010 levels.
Technical Call Updates
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