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Market Review:

Indian markets end at the day's high with decent gains on Wednesday. Barring the Nifty Auto index and the Nifty Media index, all sectoral indices on the NSE ended in the green. The S&P BSE Sensex, added 193.58 points or 0.37% to close at 53,054.76. The Nifty 50 index gained 61.40 points or 0.39% and traded at 15,879.65.

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 15800. Any move below the same may extend the fall towards 15700-15600 mark. On the flip side 16000-16080 will act as strong resistance zones. It’s a stock specific market and trade calls with strict stop loss.

Action: Nifty has an immediate support placed at 15800 and on a decisive close below expect a fall to 15700-15600 levels.

Bank Nifty

Bank Nifty faces an immediate support around 35600 level on the downside and on a decisive close below expect a fall to 35300-35000. There is an Immediate resistance at 36000-36220 levels.

Technical Call Updates

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