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Market Review:

Indian markets ended a volatile trading session with small gains on Tuesday. Gains were capped due to mixed global cues. The Nifty saw profit booking after hitting a record high of 17,438.55 in morning trade. The barometer index, the S&P BSE Sensex, rose 69.33 points or 0.12% at 58,247.09. The Nifty 50 index gained 24.70 points or 0.14% at 17,380.

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 17450. If nifty closes above that, further upside can be expected towards 17530-17600 mark. On the flip side 17300-17240 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 17450 and on a decisive close above expect a rise to 17530-17600 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 37000 levels on the upside and on a decisive close above expect a rise to 37270-37500. There is an immediate support at 36500-36370 levels.

Technical Call Updates

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