IGI Logo

Market Review:

Indian market extended losses on Monday, dragged by select heavyweight stocks. With demand evident in oil & gas, autos, and realty shares, while IT and metals shares declined. The S&P BSE Sensex slipped 352.67 points or 0.48% to 72,790.13. The Nifty 50 index lost 90.65 points or 0.41% to 22,122.05.

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 22000. If nifty closes below that, further downside can be expected towards 21900-21840 mark. On the flip side 22200-22300 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 22000 and on a decisive close below expect a fall to 21900-21840 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 46440 levels on the downside and on a decisive close below expect a fall to 46280-46000. There is an immediate resistance at 46850-47100 levels

Technical Call Updates

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