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Market Review:

Indian market indices closed with marginal losses on Friday, ending a two-day winning streak, as investors booked profits following a sharp rally in the previous session. Sector-wise, realty, media, and FMCG stocks found favour, while IT, metals, and pharma bore the brunt of the selling. The S&P BSE Sensex declined 200.15 points or 0.24% to 82,330.59. The Nifty 50 index fell 42.30 points or 0.17% to 25,019.80.

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 25100-25170 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 55240 levels on the downside and on a decisive close below expect a fall to 55000-54740 There is an immediate resistance at 55740-56000 levels.

Technical Call Updates

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