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Market Review:

Indian markets ended the week with a bang, as the key equity indices posted significant gains on Friday. Nifty PSU Bank, Media, IT and Healthcare indices rose over 1% each. The S&P BSE Sensex, the barometer index, rose by 463.06 points or 0.76% to close at 61,112.44. The Nifty 50 index advanced 149.95 points or 0.84% to 18,065.

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 18220. If nifty closes above that, further upside can be expected towards 18340-18450 mark. On the flip side 18000-17930 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 18220 and on a decisive close above expect a rise to 18340-18450 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 43500 levels on the upside and on a decisive close above expect a rise to 43740-44000. There is an immediate support at 43000-42700 levels.

Technical Call Updates

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