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Market Review:

Indian markets ended near the flat line after a volatile session on Wednesday. FMCG and auto shares rallied while banks and financial services stocks declined. The barometer index, the S&P BSE Sensex declined 33.01 points or 0.05% to 65,446.04. The Nifty 50 index added 9.50 points or 0.05% to 19,398.50.

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 19500. If nifty closes above that, further upside can be expected towards 19580-19670 mark. On the flip side 19300-19180 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 19500 and on a decisive close above expect a rise to 19580-19670 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 45500 levels on the upside and on a decisive close above expect a rise to 45770-46000. There is an immediate support at 45000-44800 levels.

Technical Call Updates

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