Nifty is expected to open on a flattish note and likely to witness range bound move during the day - Nirmal Bang Ltd
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MARKET REVIEW
* Equity benchmarks slipped for a second straight session as profit booking yesterday.
* The Nifty closed below 26,000, weighed down by metal and consumer durables stocks.
* The S&P BSE Sensex tumbled 331.21 points or 0.39% to 84,900.71. The Nifty 50 index fell 108.65 points or 0.42% to 25,959.50.
NIFTY
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 25870. If Nifty closes below that, further downside can be expected towards 25770-25700 mark.
* On the flip side 26100-26230 will act as strong resistance levels.
BANK NIFTY
BANK NIFTY TECHNICAL OUTLOOK
* Bank Nifty is expected to open on a flattish note and likely to witness range bound move during the day.
* Bank Nifty’s next immediate support is around 58600 levels on the downside and on a decisive close below expect a fall to 58370-58200.
* There is an immediate resistance at 59200-59500 levels.
Please refer disclaimer at https://www.nirmalbang.com/disclaimer.aspx
SEBI Registration number is INH00000176
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