Nifty has an immediate support placed at 23400 and on a decisive close below expect a fall to 23340-23270 levels - Nirmal Bang Ltd
Market Review:
Indian market closed with substantial gains on Friday. All the sectoral indices on the NSE ended in the green, with consumer durables, FMCG and realty shares gaining the most. The S&P BSE Sensex, rallied 740.76 points or 0.97% to 77,500.57. The Nifty 50 index added 258.90 points or 1.11% to 23,508.40
Nifty Technical Outlook
Nifty is expected to open on a flattish note and likely to witness volatile session during the day, ahead of Union Budget 2025. On technical grounds, Nifty has an immediate support at 23400. If nifty closes below that, further downside can be expected towards 23340- 23270 mark. On the flip side 23570-23640 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 23400 and on a decisive close below expect a fall to 23340-23270 levels.
Bank Nifty
Bank Nifty’s next immediate support is around 49570 levels on the downside and on a decisive close below expect a fall to 49240-49000 There is an immediate resistance at 50000-50240 level.
Technical Call Updates
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