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 markets advanced on Tuesday, marking their third consecutive day of gains. The Nifty 50 index closed above the 24,450 level, driven by strong performances in the PSU bank and metal sectors. The S&P BSE Sensex jumped 597.67 points or 0.74% to 80,845.75. The Nifty 50 index gained 181.10 points or 0.75% to 24,457.15.
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 24400. If nifty closes below that, further downside can be expected towards 24340-24270 mark. On the flip side 24540-24600 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 24400 and on a decisive close below expect a fall to 24340-24270 levels.
Bank Nifty
Bank Nifty’s next immediate support is around 52640 levels on the downside and on a decisive close below expect a fall to 52470-52240 There is an immediate resistance at 53000-53270 level.
Technical Call Updates
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Market is expected to open on a flattish note and likely to witness range bound move during ...
