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Market Review:

Indian markets continued their winning streak for a second day, mirroring positive vibes across Asia. Pharma, healthcare, and IT sectors led the charge. The S&P BSE Sensex added 62.87 points or 0.08% to 80,049.67. The Nifty 50 index rose 15.65 points or 0.06% to 24,302.15.

Nifty Technical Outlook

Nifty is expected to open on a flattish note and likely to witness range bound move during the day. On technical grounds, Nifty has an immediate support at 24240. Any move below the same may extend the fall toward 24170-24100 mark. On the flip side 24440-24500 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 24240 and on a decisive close below expect a fall to 24170-24100 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 52900 levels on the downside and on a decisive close below expect a fall to 52640-52300. There is an immediate resistance at 53370-53570 levels.

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