On technical grounds, Nifty has an immediate support at 24940 - Nirmal Bang Ltd
Market Review:
Indian market benchmarks closed sharply higher yesterday. The rally was fueled by the Reserve Bank of India's record dividend payout, which is likely to ease fiscal stress. The Nifty ended just above the 25,000 mark, with auto, IT, and FMCG stocks leading the charge. The S&P BSE Sensex added 455.37 points or 0.56% to 82,176.45. The Nifty 50 index advanced 148 points or 0.60% to 25,001.15.
Nifty Technical Outlook
Nifty is expected to open on a flattish note and likely to witness range bound move during the day. On technical grounds, Nifty has an immediate support at 24940. If Nifty closes below that, further downside can be expected towards 24870-24800 mark. On the flip side 25070-25140 will act as strong resistance levels
Action: Nifty has an immediate support placed at 24940 and on a decisive close below expect a fall to 24870-24800 levels.
Bank Nifty
Bank Nifty’s next immediate support is around 55470 levels on the downside and on a decisive close below expect a fall to 55200-55000 There is an immediate resistance at 56000-56240 levels.
Technical Call Updates
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Nifty has an immediate support placed at 24800 and on a decisive close below expect a fall t...
