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Market Review:

Indian market declined for second trading session on Friday. Resurgent worries about rising US bond yields hit global stocks. Firm crude oil prices could increase fiscal deficit, current account deficit and stoke fuel price inflation. The Nifty closed below the crucial 15,000mark. BSE Sensex, tumbled 440.76 points or 0.87% at 50,405.32.The Nifty 50 index slumped 142.65 points or 0.95% at 14,938.60.

Nifty Technical Outlook

Nifty is expected to open gap up likely to witness positive move during the day. On technical grounds, Nifty has an immediate resistance at 15040. If nifty closes above that, further upside can be expected towards 15100-15170 mark. On the flip side 14900-14840 will act as strong support levels. It’s a stock specific market trade calls with strict stoploss.

Action: Nifty has an immediate resistance placed at 15040 and on a decisive close above expect a rise to 15100-15170 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 35670 levels on the upside and on a decisive close above expect a rise to 36050-36340. There is an immediate support at 34900-34560 levels.

Technical Call Updates

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