Nifty has an immediate support placed at 24240 and on a decisive close below expect a fall to 24170-24100 levels - Nirmal Bang Ltd
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Market Review:
Indian markets indices ended almost flat on Friday. Oil & gas, pharma, and PSU banks provided some pockets of strength.The S&P BSE Sensex was down 53.07 points or 0.07% to 79,996.60. The Nifty 50 index added 21.70 points or 0.09% to 24,323.85.
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 24400-24500 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 52340 levels on the downside and on a decisive close below expect a fall to 51970-51600. There is an immediate resistance at 53040-53370 levels.
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