Nifty has an immediate support placed at 24740 and on a decisive close below expect a fall to 24670-24600 levels - Nirmal Bang Ltd
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Market Review:
Indian markets ended flat today after a rollercoaster ride. The Sensex and the Nifty touched record high but profit-booking in tech and telecom dragged them lower. Banking, media, and real estate stocks rallied. The S&P BSE Sensex gained 23.12 points or 0.03% to 81,355.84. The Nifty 50 index rose 1.25 points or 0.01% to 24,836.10.
Nifty Technical Outlook Nifty is expected to open on a negative note and likely to witness range bound move during the day. On technical grounds, Nifty has an immediate support at 24740. Any move below the same may extend the fall toward 24670-24600 mark. On the flip side 24900-24970 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 24740 and on a decisive close below expect a fall to 24670-24600 levels.
Bank Nifty
Bank Nifty’s next immediate support is around 51000 levels on the downside and on a decisive close below expect a fall to 50770-50500. There is an immediate resistance at 51540-51870 levels
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