IGI Logo

Market Review:

Indian markets benchmarks concluded Wednesday's trading session with modest gains, marking their fourth consecutive day of upward momentum. PSU banks, realty and financial services stocks were in demand. However, FMCG and auto shares declined. The S&P BSE Sensex was up 110.58 points or 0.14% to 80,956.33. The Nifty 50 index added 10.30 points or 0.04% to 24,467.45.

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 53000 levels on the downside and on a decisive close below expect a fall to 52740-52500 There is an immediate resistance at 53640-53900 level.

Technical Call Updates

Please refer disclaimer at https://www.nirmalbang.com/disclaimer.aspx
SEBI Registration number is INH000001766