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In terms of levels, 19550 – 19500 is the crucial support zone while 19640 – 19660 shall act as an immediate hurdle zone, says Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas.
Newgen Software Technologies Q2 FY24 results: Revenue increased by 29.68% YoY & profit increased by 59.3% YoY
If Nifty successfully surpasses 19,850 levels, we anticipate a potential upward movement towards levels of 19,990 and 20,100.
The domestic indices were dragged by banks and financials. The 30-share BSE Sensex slipped 152 points or 0.23 per cent to trade at 66,276, while the NSE Nifty was down 29 points or 0.15 per cent to trade at 19,782.
The company reported a consolidated net profit of Rs 478 crore for the quarter ended September 30 which was up by 59.3% year-on-year versus Rs 300 crore reported by it in the corresponding quarter of the last financial year.