Nifty is expected to open on a flattish note and likely to witness range bound move during the day - Nirmal Bang Ltd
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Market Review:
Indian market ended with minor gains on Friday. Shares in the pharma, auto, and healthcare sectors advanced, while those in the metal, PSU banks, and oil & gas sectors declined. The S&P BSE Sensex advanced 226.59 points or 0.29% to 78,699.07. The Nifty 50 index rose 63.20 points or 0.27% to 23,813.40.
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 23740. If nifty closes below that, further downside can be expected towards 23670-23600 mark. On the flip side 23870-23950 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 23740 and on a decisive close below expect a fall to 23670-23600 levels.
Bank Nifty
Bank Nifty’s next immediate support is around 51470 levels on the downside and on a decisive close below expect a fall to 51200-51000 There is an immediate resistance at 52000-52240 level.
Technical Call Updates
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