IGI Logo

Market Review:

Indian markets snapped a five-day losing streak on Monday, ending the session on a strong note. All sectoral indices on the NSE finished in the green, with public sector banks, metals, and media stocks leading the charge. The S&P BSE Sensex jumped 602.75 points or 0.76% to 80,005.04. The Nifty 50 index gained 158.35 points or 0.65% to 24,339.15.

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 resistance at 24400. If nifty closes above that, further upside can be expected towards 24470-24550 mark. On the flip side 24270-24200 will act as strong support levels. It’s a stock specific market trade calls with strict stop loss.

Action: Nifty has an immediate resistance placed at 24400 and on a decisive close above expect a rise to 24470-24550 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 51570 levels on the upside and on a decisive close above expect a rise to 51740-52000 There is an immediate support at 51000-50740 levels.

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