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 Benchmark surged for the third straight session, riding high on a bigger-than-expected rate cut by the RBI. The Nifty closed above the 25,000 mark, with strong gains seen in realty, metal, and banking stocks. The S&P BSE Sensex surged 746.95 points or 0.92% to 82,188.99. The Nifty 50 index jumped 252.15 points or 1.02% to 25,003.05.
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 25070. If Nifty closes above that, further upside can be expected towards 25140-25200 mark. On the flip side 24900-24800 will act as strong Support levels.
Action: Nifty has an immediate Resistance at 25070 and on a decisive close above expect a rise to 25140-25200 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 56500-56270 levels.
Technical Call Update
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Markets is expected to open on a gap up note and likely to witness positive move during the ...
