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 benchmarks closed with substantial gains on Friday. The Nifty index closed just above the 23,350 mark, with media, energy, and PSU bank sectors experiencing strong demand. Conversely, the consumer durables, metals, and IT sectors faced declines. The S&P BSE Sensex surged 557.45 points, or 0.73%, to 76,905.51. The Nifty 50 index rallied 159.75 points, or 0.69%, to 23,350.40.
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 23440. If nifty closes above that, further upside can be expected towards 23500-23570 mark. On the flip side 23270-23200 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 23440 and on a decisive close above expect a rise to 23500-23570 levels.
Bank Nifty
Bank Nifty faces an immediate resistance around 50840 levels on the upside and on a decisive close above expect a rise to 51000- 51240.There is an immediate support at 50270-50000 levels.
Technical Call Updates
Please refer disclaimer at https://www.nirmalbang.com/disclaimer.aspx
SEBI Registration number is INH00000176
Tag News
Nifty is expected to open on a positive note and likely to witness range bound move during t...
