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Market Review:

Indian markets ended with minor losses on Tuesday, tracking negative global cues. Global investors were rattled by a surprise monetary policy shift by a surprise monetary policy shift by the Bank of Japan. Investors were concerned that aggressive monetary policy moves by global central banks could push the world economy into recession. The barometer index S&P BSE Sensex declined 103.90 points or 0.17% to 61,702.29. The Nifty 50 index lost 35.15 points or 0.19% to 18,385.30.

Nifty Technical Outlook

Nifty is expected to open on a positive note and likely to witness upmove during the day. On technical grounds, Nifty has an immediate resistance at 18470. If nifty closes above that, further upside can be expected towards 18570/18640 mark. On the flip side 18340/18200 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 18470 and on a decisive close above expect a rise to 18570/18640 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 43600 levels on the upside and on a decisive close above expect a rise to 43760/44000. There is an immediate support at 43160/42880 levels.

Technical Call Updates

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