Nifty is expected to open on a flattish note and likely to witness sideways move during the day - Nirmal Bang Ltd
Market Review:
Indian market benchmark closed virtually unchanged today as investors closely monitored ongoing US-China trade discussions. Sectoral performance was bifurcated, with IT and pharma stocks emerging as gainers. In contrast, realty and banks shares were under pressure. The S&P BSE Sensex shed 53.49 points or 0.06% to 82,391.72. The Nifty 50 index rose 1.05 points or 0.00% to 25,104.25.
Nifty Technical Outlook
Nifty is expected to open on a flattish note and likely to witness sideways move during the day. On technical grounds, Nifty has an immediate Resistance at 25170. If Nifty closes above that, further upside can be expected towards 25240-25300 mark. On the flip side 25040-24970 will act as strong Support levels.
Action: Nifty has an immediate Resistance at 25170 and on a decisive close above expect a rise to 25240-25300 levels.
Bank Nifty
Bank Nifty’s next immediate resistance is around 57000 levels on the upside and on a decisive close above expect a rise to 57240-57500. There is an immediate support at 56540-56200 levels.
Technical Call Updates
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Market is expected to open on a flattish note and likely to witness range bound move during ...
