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Market Review:

Indian markets managed to end on a positive note. Realty, metals, and PSU banks shares experienced demand, while shares of private banks, oil & gas, and IT sectors faced a downturn in performance. The barometer index, the S&P BSE Sensex, advanced 118.57 points or 0.19% at 62,547.11. The Nifty 50 index added 46.35 points or 0.25% at 18,534.10.

Nifty Technical Outlook

Nifty is expected to open gap up and likely to witness positive move during the day. On technical grounds, Nifty has an immediate resistance at 18600. If nifty closes above that, further upside can be expected towards 18700-18780 mark. On the flip side 18470-18400 will act as strong support levels. It’s a stock specific market trade calls with strict stop loss.

Action: Nifty has an immediate resistance placed at 18600 and on a decisive close above expect a rise to 18700-18780 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 44370 levels on the upside and on a decisive close above expect a rise to 44700-45000. There is an immediate support at 43900-43740 levels

Technical Call Updates

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