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Market Review:

Indian markets closed higher on Tuesday. Back home, auto, FMCG and pharma shares were in demand. The barometer index, the S&P BSE Sensex added 273.67 points or 0.42% to 65,617.84. The Nifty 50 index advanced 83.50 points or 0.43% to 19,439.40.

Nifty Technical Outlook :

Nifty is expected to open on a flattish note and likely to witness sideways move during the day. On technical grounds, Nifty has an immediate resistance at 19550. If nifty closes above that, further upside can be expected towards 19670-19750 mark. On the flip side 19350-19240 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 19550 and on a decisive close above expect a rise to 19670-19750 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 45100 levels on the upside and on a decisive close above expect a rise to 45500-45770. There is an immediate support at 44640-44370 levels.

Technical Call Updates

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