Indian markets ended with modest losses on Monday on the back of mixed global cues amid rising coronavirus cases. The ongoing IndoChina border tensions also weighed on the investors' sentiment. Weakness in banks and IT shares put pressure on bourses. The barometer S&P BSE Sensex declined209.75 points or 0.6% at 34,961.52. The Nifty 50 index fell 70.60 points or 0.68% at 10,312.40.
Nifty Technical Outlook
Nifty is expected to open on flattish note and likely to witness positive move during the day. On technical grounds, Nifty has an immediate resistance at 10360. Some pull back rally can be expected towards 10410-10500 mark. On the flip side 10240-10180 will act as strong support levels. It’s a stock specific market trade the calls with strict stoploss.
Action: Nifty has an immediate resistance placed at 10360 and on a decisive close above expect a rise to 10410-10500 levels.
Bank Nifty faces an immediate resistance around 21410 levels on the upside and on a decisive close above expect a rise to 21600-22000. There is an Immediate support at 21000-20780 levels.
Technical call updates
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