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Market Review:

Indian market indices extended their winning streak for the fifth consecutive session yesterday. Investor sentiment remained positive, aided by continued foreign institutional inflows, with FIIs registering as net buyers for the third straight session. The Nifty 50 settled at 24,125.55 with a gain of 273.90 points or 1.15%. The S&P BSE Sensex surged 855.30 points or 1.09% to end at 79,408.50.

Nifty Technical Outlook

Nifty is expected to open on a flattish note and likely to witness positive move during the day. On technical grounds, Nifty has an immediate Resistance at 24200. If Nifty closes below that, further upside can be expected towards 24270-24340 mark. On the flip side 24040-23970 will act as strong support levels.

Action: Nifty has an immediate Resistance placed at 24200 and on a decisive close above expect a rise to 24270-24340 levels.

Bank Nifty

Bank Nifty’s next immediate resistance is around 55540 levels on the upside and on a decisive close above expect a rise to 55770-56000 There is an immediate support at 55000-54740 levels.

Technical Call Updates

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