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Market Review: 

Indian markets closed with significant gains on Friday, with the Nifty surpassing the 19,550 mark, driven by positive global cues. Despite record high index levels, the India VIX indicates no fear in the market. The S&P BSE Sensex, was up 502.01 points or 0.77% to 66,060.90. The Nifty 50 index gained 150.75 points or 0.78% to 19,564.50 

Nifty Technical Outlook 

Nifty is expected  to open on a positive note and likely to witness sideways move during the day. On technical grounds, Nifty has an immediate resistance at 19600. If nifty closes above that, further upside can be expected towards 19670-19790 mark. On the flip side 19400-19270will 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 19600 and on a decisive close above expect a rise to 19670-19790 levels. 

Bank Nifty 

Bank Nifty faces an immediate resistance around 45000 levels on the upside and on a decisive close above expect a rise to 45200-45510. There is an immediate support at 44670-44360 levels. 

Technical Call Updates 

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