Nifty is expected to open on a gap up note and likely to witness positive move during the day - Nirmal Bang Ltd
Market Review:
Indian market ended slightly lower yesterday, closed below the 24,800 level, with the broader market displaying a range-bound trend, slightly skewed to the downside. FMCG, auto and pharma shares dragged. The S&P BSE Sensex slipped 239.31 points or 0.29% to 81,312.32. The Nifty 50 index fell 73.75 points or 0.30% to 24,752.45.
Nifty Technical Outlook
Nifty is expected to open on a gap up note and likely to witness positive move during the day. On technical grounds, Nifty has an immediate Resistance at 24840. If Nifty closes above that, further upside can be expected towards 24900-25000 mark. On the flip side 24670-24600 will act as strong support levels.
Action: Nifty has an immediate Resistance placed at 24840 and on a decisive close above expect a rise to 24900-25000 levels.
Bank Nifty
Bank Nifty’s next immediate resistance is around 55770 levels on the upside and on a decisive close above expect a rise to 56000-56240 There is an immediate support at 55200-55000 levels
Technical Call Updates
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