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 markets ended Wednesday's session on a positive note, with the Nifty 50 index settling above the 24,250 mark. Metal and energy stocks emerged as top performers, while pharma and healthcare shares declined. The S&P BSE Sensex rose 230.02 points or 0.29% to 80,234.08. The Nifty 50 index advanced 80.40 points or 0.33% to 24,274.90.
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 24340. If nifty closes above that, further upside can be expected towards 24400-24470 mark. On the flip side 24200-24140 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 24340 and on a decisive close above expect a rise to 24400-24470 levels.
Bank Nifty
Bank Nifty faces an immediate resistance around 52540 levels on the upside and on a decisive close above expect a rise to 52770-53000 There is an immediate support at 52000-51740 levels.
Technical Call Updates
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