Nifty is expected to open on a negative note and likely to witness range bound move during the day - Nirmal Bang Ltd
Market Review:
Indian market benchmarks broke their three-day losing streak and ended with respectable gains Wednesday, thanks to strong support from pharma and auto stocks. The S&P BSE Sensex gained 410.19 points or 0.51% to 81,596.63. The Nifty 50 index rose 129.55 points or 0.52% to 24,813.45.
Nifty Technical Outlook
Nifty is expected to open on a negative note and likely to witness range bound move during the day. On technical grounds, Nifty has an immediate support at 24740. If Nifty closes below that, further downside can be expected towards 24670-24600 mark. On the flip side 24900-25000 will act as strong resistance levels.
Action: Nifty has an immediate support placed at 24740 and on a decisive close below expect a fall to 24670-24600 levels.
Bank Nifty
Bank Nifty’s next immediate support is around 54840 levels on the downside and on a decisive close below expect a fall to 54600-54370 There is an immediate resistance at 55440-55700 levels.
Technical Call Updates
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