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 declined for the second consecutive day on Thursday. While realty, consumer durables, and FMCG sectors faced losses, pharma and IT stocks bucked the trend and registered gains. The S&P BSE Sensex slipped 213.12 points or 0.27% to 78,058.16. The Nifty 50 index lost 92.25 points or 0.39% to 23,603.35.
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 23670. If nifty closes above that, further upside can be expected towards 23740-23800 mark. On the flip side 23540-23470 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 23670 and on a decisive close above expect a rise to 23740-23800 levels.
Bank Nifty
Bank Nifty faces an immediate resistance around 50840 levels on the upside and on a decisive close above expect a rise to 51000-51240 There is an immediate support at 50440-50200 levels.
Technical Call Updates
Please refer disclaimer at https://www.nirmalbang.com/disclaimer.aspx
SEBI Registration number is INH00000176
Tag News
The US market broadly saw gains on Wednesday as a softer inflation data eased fears of a lik...
