Nifty is expected to open on a negative note and likely to witness negative move during the day - Nirmal Bang Ltd
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MARKET REVIEW
* Equity benchmarks closed lower yesterday, marking a second straight day of losses.
* The Nifty spot slipped below 25,850, weighed down by IT, auto and pharma stocks. However, consumer durables, PSU banks and realty counters saw buying interest.
* The S&P BSE Sensex declined 436.41 points or 0.51% to 84,666.28. The Nifty 50 index fell 120.90 points or 0.47% to 25,839.65.
NIFTY FUT CHART
NIFTY FUT TECHNICAL OUTLOOK
* Nifty is expected to open on a negative note and likely to witness negative move during the day.
* On technical grounds, Nifty has an immediate support at 25870. If Nifty closes below that, further downside can be expected towards 25800-25700.
* On the flip side 26040-26120 will act as strong resistance levels.
BANK NIFTY FUT CHART
BANK NIFTY FUT TECHNICAL OUTLOOK
* Bank Nifty is expected to open on a negative note and likely to witness negative move during the day.
* Bank Nifty’s next immediate support is around 59270 levels on the downside and on a decisive close below expect a fall to 59000-58800.
* There is an immediate resistance at 59740-59930 levels.
TECHNICAL CALL UPDATES
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