Nifty is expected to open on a flattish note and likely to witness range bound move during the day - Nirmal Bang Ltd
Market Review:
Indian market key equity benchmarks resumed their uptrend on Thursday.The rally helped counter losses in the auto sector, which came under pressure following U.S. President Donald Trump’s announcement of a 25% tariff on imported cars, sparking concerns over trade policies. The S&P BSE Sensex rallied 317.93 points or 0.41% to 77,606.43. The Nifty 50 index added 105.10 points or 0.45% to 23,591.95.
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 23500. If Nifty closes below that, further downside can be expected towards 23440-23370 mark. On the flip side 23670-23750 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 23500 and on a decisive close below expect a fall to 23440-23370 levels.
Bank Nifty
Bank Nifty’s next immediate support is around 51270 levels on the downside and on a decisive close below expect a fall to 51000-50740 There is an immediate resistance at 51840-52000 levels.
Technical Call Updates
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