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Market Review:

Indian markets ended with small gains on Thursday, extending the rally to fifth consecutive trading session. Trading was volatile due to mixed global cues. Metal, pharma and auto stocks advanced while realty, banks and financial shares corrected. The barometer index, the S&P BSE Sensex, rose 85.26 points or 0.14% at 61,235.30. The Nifty 50 index rose 45.45 points or 0.25% at 18,257.80.

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 support at 18180. Any move below the same may extend the fall toward 18100-18000 mark. On the flip side 18350-18420 will act as strong resistance levels. It’s a stock specific market and trade calls with strict stop loss.

Action: Nifty has an immediate support placed at 18180 and on a decisive close below expect a fall to 18100-18000 levels.

Bank Nifty

Bank Nifty faces an immediate support around 38330 levels on the downside and on a decisive close below expect a fall to 38000-37730. There is an immediate resistance at 39000-39370 levels.

Technical Call Updates

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