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Market Review:

Indian market benchmarks ended with substantial gains on Wednesday. Barring the Nifty FMCG index, all the other sectoral indices on the NSE traded in the green. The S&P BSE Sensex rallied 631.55 points or 0.83% to 76,532.96. The Nifty 50 index advanced 205.85 points or 0.90% to 23,163.10.

Nifty Technical Outlook 

 Nifty is expected  to open  on a flattish note and likely to witness range bound move during the day. On technical grounds, Nifty has an immediate resistance at 23240. If nifty closes above that, further upside can be expected towards 23300-23370 mark. On the flip side 23100-23000 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 23240 and on a decisive close above expect a rise to 23300-23370 levels. 

Bank Nifty

Bank Nifty faces an immediate resistance around 49370 levels on the upside and on a decisive close above expect a rise to 49640-49800 There is an immediate support at 48870-48600 levels. 

Technical Call Updates

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