Nifty is expected to open gap down and likely to witness selling pressure during the day - Nirmal Bang Ltd
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Market Review:
Indian markets ended with deep losses on Monday as tensions flared in the Middle East following Iran's attack on Israel. Oil & gas sector was the only bright spot, as all other sectors bled red. Media, PSU banks, and financial services took a particularly hard hit.The S&P BSE Sensex slipped 845.12 points or 1.14% to 73,399.78. The Nifty 50 index lost 246.90 points or 1.10% to 22,272.50.
Nifty Technical Outlook
Nifty is expected to open gap down and likely to witness selling pressure during the day. On technical grounds, Nifty has an immediate support at 22200. If nifty closes below that, further downside can be expected towards 22040-21900 mark. On the flip side 22340-22400 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 22200 and on a decisive close below expect a fall to 22040-21900 levels.
Bank Nifty
Bank Nifty’s next immediate support is around 47470 levels on the downside and on a decisive close below expect a fall to 47070-46700. There is an immediate resistance at 47960-48340 levels.
Please refer disclaimer at https://www.nirmalbang.com/disclaimer.aspx
SEBI Registration number is INH000001766
Tag News
Markets are expected to open on a flattish note and likely to remain sideways move during th...
More News
Nifty options where Addition in OI were seen in 21600, 21700, 21800 - Nirmal Bang Ltd
