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Market Review:

Indian markets advanced for fifth trading session on Friday, following Reserve Bank of India (RBI)'s decision to keep repo rates unchanged. Global shares were positive on progress in vaccine distribution. The Sensex added 117.34 points or 0.23% to 50,731.63. The Nifty 50 gained 28.60 points or 0.19% to 14,924.25.

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 15000. If nifty closes above that, further upside can be expected towards 15080-15150 mark. On the flip side 14850-14770 will act as strong support levels. It’s a stock specific market trade calls with strict stoploss.

Action: Nifty has an immediate resistance placed at 15000 and on a decisive close above expect a rise to 15080-15150 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 36000 levels on the upside and on a decisive close above expect a rise to 36360-36700. There is an immediate support at 35250-35000 levels.

Technical call updates

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