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Market Review:

Indian markets ended with upward trend on Wedneday. PSU banks, media and consumer durables shares rallied, while IT, auto and realty shares lagged. The S&P BSE Sensex, which serves as a barometer index, rose by 302.30 points or 0.45% to reach 67,097.44. The Nifty 50 index increased by 83.90 points or 0.42% to reach 19,833.15.

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 support at 19750. Any move below the same may extend the fall toward 19640-19550 mark. On the flip side 19900-20000 will act as strong resistance levels. It’s a stock specific market, trade calls with strict stop loss.

Action: Nifty has an immediate support placed at 19750 and on a decisive close below expect a fall to 19640-19550 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 45500 levels on the downside and on a decisive close below expect a fall to 45240-45000. There is an immediate resistance at 46000-46270 levels.

Technical Call Updates :

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