Nifty is expected to open on a flattish note and likely to witness a range bound move during the day - Nirmal Bang Ltd
Market Review:
Indian market benchmarks ended moderately lower yesterday. While tariff concerns continue to cloud sentiment, with IT giant TCS set to report its results on Thursday, July 10. The Nifty closed below the 25,500 mark, pressured by declines in metal and energy stocks. The S&P BSE Sensex declined 176.43 points or 0.21% to 83,536.08. The Nifty 50 index fell 46.40 points or 0.18% to 25,476.10.
Nifty Technical Outlook
Nifty is expected to open on a flattish note and likely to witness a range bound move during the day. On technical grounds, Nifty has an immediate support at 25400. If Nifty closes below that, further downside can be expected towards 25370-25300 mark. On the flip side 25540-25670 will act as strong resistance levels.
Action: Nifty has an immediate Support at 25400 and on a decisive close below expect a fall to 25370-25300 levels.
Bank Nifty
Bank Nifty’s next immediate support is around 57200 levels on the downside and on a decisive close below expect a fall to 57000-56740. There is an immediate resistance at 57640-57900 levels.
Technical Call Updates
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