Also Read: 5 things that changed for market overnight: Gift Nifty, Jerome Powell’s speech to global market cues for Sensex today Here’s what to expect from Nifty and Bank Nifty today: The Nifty remained under the bear's grip as selling pressure emerged around the day's high, which resulted in a decline below 19,500. “On the upper side, resistance is expected to persist in the range of 19,450-19,500. A definitive breakout or a closing above 19,500 could potentially trigger a rally in the index.
On the lower side, there is immediate support at 19,300; a drop below this level might lead to panic in the market," said Rupak De, Senior Technical analyst at LKP Securities. Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — 25th August The Bank Nifty index ended 17 points higher at 44,496, after witnessing selling pressure at the higher levels on Thursday. “The Bank Nifty index recently encountered selling pressure from elevated levels and is now displaying indications of range-bound trading.
The range of movement seems to be established between 44,000 and 45,000, a zone where substantial put and call writing activities are evident. In the current scenario, the index's immediate support lies at 44,200," said Kunal Shah, Senior Technical & Derivative analyst at LKP Securities. He believes if this support level is effectively maintained, the index could potentially experience a recovery, driving it towards levels of 44,800 and 45,000.
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