Market Review:

Indian markets ended a volatile session with modest losses on Monday. The Nifty failed to hold the 15,850 mark. While realty and auto stocks tumbled, metals, pharma and IT shares managed to end in the green. The barometer index, the S&P BSE Sensex, fell 123.53 points or 0.23% to 52,852.27. The Nifty 50 index lost 31.60 points or 0.20% to 15,824.45.

Nifty Technical Outlook

Nifty is expected to open on a flattish note and likely to witness sideways move during the day. On technical grounds, Nifty has an immediate resistance at 15900. If nifty closes above that, further upside can be expected towards 16000-16080 mark. On the flip side 15750-15670 will act as strong support levels. It’s a stock specific market trade calls with strict stoploss.

Action: Nifty has an immediate resistance placed at 15900 and on a decisive close above expect a rise to 16000-16080 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 35180 levels on the upside and on a decisive close above expect a rise to 35500-35800. There is an immediate support at 34750-34500 levels.

Technical Call Updates

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