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:
Indian markets ended with decent gains after hitting fresh record highs on Monday. The Nifty settled above the 25,250 mark. The S&P BSE Sensex gained 194.07 points or 0.24% to 82,559.84. The Nifty 50 index added 42.80 points or 0.17% to 25,278.70.
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 25340. If nifty closes above that, further upside can be expected towards 25430-25500 mark. On the flip side 25200-25140 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 25340 and on a decisive close above expect a rise to 25430-25500 levels.
Bank Nifty
Bank Nifty faces an immediate resistance around 51800 levels on the upside and on a decisive close above expect a rise to 52000-52340 There is an immediate support at 51500-51340 levels.
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