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 benchmarks closed with robust gains on Thursday. All sectoral indices on the NSE closed positively, with the energy, auto, and FMCG sectors leading the gains. The S&P BSE Sensex surged 899.01 points or 1.19% to 76,348.06. The Nifty 50 index soared 283.05 points or 1.24% to 23,190.65.
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 23070. If Nifty closes below that, further downside can be expected towards 23000-22940 mark. On the flip side 23270-23340 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 23070 and on a decisive close below expect a fall to 23000-22940 levels.
Bank Nifty
Bank Nifty’s next immediate support is around 49840 levels on the downside and on a decisive close below expect a fall to 49600-49340 There is an immediate resistance at 50340-50600 levels.
Technical Call Updates
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