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Market Review:

Indian markets ended with major gains after an up-trending session on Monday. The PSU bank, media and realty stocks were in demand while healthcare and pharma stocks declined. The barometer index, the S&P BSE Sensex dvanced 721.13 points or 1.20% to 60,566.42. The Nifty 50 index added 207.80 points or 1.17% to 18,014.60.

Nifty Technical Outlook

Nifty is expected to open on a positive note and likely to witness up move during the day. On technical grounds, Nifty has an immediate resistance at 18100. If nifty closes above that, further upside can be expected towards 18240-18300 mark. On the flip side 17900-17770 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 18040 and on a decisive close above expect a rise to 18100-18240 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 42800 levels on the upside and on a decisive close above expect a rise to 43100-43470 There is an immediate support at 42370-41920 levels.

Technical Call Updates

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