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Market Review:

Indian markets had a flat closing on Tuesday. IT, auto, and pharma shares closed on a positive note, while PSU banks and realty shares saw a dip. The barometer index, the S&P BSE Sensex lost 2.92 points to 61,761.33. The Nifty 50 index added 1.55 points or 0.01% to 18,265.95.

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 18330. If nifty closes above that, further upside can be expected towards 18400-18500 mark. On the flip side 18200-18100 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 18330 and on a decisive close above expect a rise to 18400-18500 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 43440 levels on the upside and on a decisive close above expect a rise to 43700-44000. There is an immediate support at 43000-42740 levels.

Technical Call Updates

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