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Market Review:

Indian markets recorded minor gains on Tuesday. The sectoral performance was mixed, with metals and realty sectors seeingdecent gains, while PSU banks and FMCG sectors experienced slight declines. The S&P BSE Sensex rose 79.22 points or 0.12% to 65,075.82. The Nifty 50 index added 36.60 points or 0.19% to 19,342.65.

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 19440. If nifty closes above that, further upside can be expected towards 19550-19640 mark. On the flip side 19270-19200 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 19440 and on a decisive close above expect a rise to 19550-19640 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 44740 levels on the upside and on a decisive close above expect a rise to 45000-45250. There is an immediate support at 44280-44000 levels.

Technical Call Updates

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