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Market Review:

Indian markets experienced a sharp decline yesterday, mirroring global trends, as tensions in the Middle East escalated. The Nifty50 closed below 25,850, with sectors like auto, banking, and finance bearing the brunt of the sell-off. The S&P BSE Sensex, tanked 1,272.07 points or 1.49% to 84,299.78. The Nifty 50 index dropped 368.10 points or 1.41% to 25,810.85.

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 25870. If nifty closes above that, further upside can be expected towards 25940-26050 mark. On the flip side 25740-25670 will act as strong support levels. It’s a stock specific market trade calls with strict stop loss.

Bank Nifty

Bank Nifty faces an immediate resistance around 53670 levels on the upside and on a decisive close above expect a rise to 53840-54000 There is an immediate support at 53240-53000 levels.

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