IGI Logo

Market Review:

Indian markets ended Tuesday’s trading session with significant gains, primarily driven fag-end buying in metal, banking, and financial stocks.The S&P Bse Sensex rallied 694.39 points or 0.88% to 79,476.63.The Nifty 50 index advanced 217.95 points or 0.91% to 24,213.30.

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 24270. If nifty closes above that, further upside can be expected towards 24340-24400 mark. On the flip side 24140-24070 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 24270 and on a decisive close above expect a rise to 24340-24400 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 52640 levels on the upside and on a decisive close above expect a rise to 52900-53270 There is an immediate support at 52000-51740 levels.

Please refer disclaimer at https://www.nirmalbang.com/disclaimer.aspx
SEBI Registration number is INH000001766