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Market Review:

Indian market indices closed marginally lower on Tuesday, with the Nifty settling below the 23,750 mark. The day witnessed a decline in key sectors, including metals, public sector banks, and IT stocks. The S&P BSE Sensex, was down 67.30 points or 0.09% to 78,472.87. The Nifty 50 index shed 25.80 points or 0.11% to 23,727.65.

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 resistance at 23770. If nifty closes above that, further upside can be expected towards 23840-23900 mark. On the flip side 23640-23570 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 23770 and on a decisive close above expect a rise to 23840-23900 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 52470 levels on the upside and on a decisive close above expect a rise to 52740-53000 There is an immediate support at 51000-50770 levels.

Technical Call Updates

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