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Market Review:

Indian markets ended higher on Friday. Nifty Metal, Nifty Auto, and Nifty PSU Bank performed better than the Nifty 50, while Nifty Healthcare, Nifty Pharma, and Nifty Media lagged. The barometer index, the S&P BSE Sensex rallied 555.75 points or 0.86% to 65,387.16. The Nifty 50 index added 181.50 points or 0.94% to 19,435.30.

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 19500. If nifty closes above that, further upside can be expected towards 19580-19650 mark. On the flip side 19370-19300 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 19500 and on a decisive close above expect a rise to 19580-19650 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 44880 levels on the upside and on a decisive close above expect a rise to 45150-45400. There is an immediate support at 44400-44240 levels.

Technical Call Updates

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