Nifty has an immediate support placed at 24070 and on a decisive close below expect a fall to 24000-23940 levels - Nirmal Bang Ltd
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Market Review:
Indian market indices surged on Thursday, driven by strong auto sales figures. The Nifty closed above the 24,150 mark, with auto, IT, and consumer durables sectors leading the rally. The S&P BSE Sensex soared 1,436.30 points or 1.83% to 79,943.71. The Nifty 50 index jumped 445.75 points or 1.88% to 24,188.65.
Nifty Technical Outlook
Nifty is expected to open on a gap down note and likely to witness sideways move during the day. On technical grounds, Nifty has an immediate support at 24070. If nifty closes below that, further downside can be expected towards 24000-23940 mark. On the flip side 24240-24300 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 24070 and on a decisive close below expect a fall to 24000-23940 levels.
Bank Nifty
Bank Nifty’s next immediate support is around 51570 levels on the downside and on a decisive close below expect a fall to 51240-51000 There is an immediate resistance at 52000-52270 level.
Technical Call Updates
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