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Market Review:

Indian markets reversed intraday gains and ended almost flat after a volatile session on Tuesday. Auto, metal and pharma shares witnessed profit selling. The barometer index, the S&P BSE Sensex, fell 19.69 points or 0.04% to 15109.30.

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 15230. If nifty closes above that, further upside can be expected towards 15340-15420 mark. On the flip side 15000-14930 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 15230 and on a decisive close above expect a rise to 15340-15420 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 36470 levels on the upside and on a decisive close above expect a rise to 36750-37000. There is an immediate support at 35650-35340 levels.

Technical Call Updates

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