IGI Logo

Market Review:

Indian markets started the new financial year on a strong note, mirroring a global rally. The key indices, Sensex and Nifty, surged to new highs on the back of positive investor sentiment and buying in sectors like metals, realty, and media.The S&P BSE Sensex, was up 363.20 points or 0.49% to 74,014.55. The Nifty 50 index added 135.10 points or 0.61% to 22,462.

Nifty Technical Outlook

Nifty is expected to open on flattish note and likely to witness sideways move during the day. On technical grounds, Nifty has an immediate support at 22400. If nifty closes below that, further downside can be expected towards 22340-22270 mark. On the flip side 22540-22600 will act as strong resistance levels. It’s a stock specific market trade calls with strict stop loss.

Action: Nifty has an immediate support placed at 22400 and on a decisive close below expect a fall to 22340-22270 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 47740 levels on the downside and on a decisive close below expect a fall to 47540-47300. There is an immediate resistance at 48000-48200 levels.

Technical Call Updates

Please refer disclaimer at https://www.nirmalbang.com/disclaimer.aspx
SEBI Registration number is INH000001766