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Market Review:

Indian markets clocked robust gains on Thursday, amid buying interest in FMCG and IT stocks. Realty shares extended recent gains while PSU banks and auto shares corrected. The barometer index, the S&P BSE Sensex, surged 514.33 points or 0.9% at 57,852.54. The Nifty 50 index advanced 157.90 points or 0.92% at 17,234.15.

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 17300. If nifty closes above that, further upside can be expected towards 17370-17450 mark. On the flip side 17150-17070 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 17300 and on a decisive close above expect a rise to 17370-17450 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 37200 levels on the upside and on a decisive close above expect a rise to 37400-37650. There is an immediate support at 36640-36300 levels.

Technical Call Updates

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