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Market Review:

Indian market snapped four-day rising streak on Tuesday on account of negative global cues. Shares of metal and PSU banks shares advanced. The barometer index, the S&P BSE Sensex, declined 340.60 points or 0.69% to 49,161.81. The Nifty 50 index fell 91.60 points or 0.61% at 14,850.75.

Nifty Technical Outlook

Nifty is expected to open on flattish note and likely to witness sideways move during the day.On technical grounds, Nifty has an immediate resistance at 14900-14940. If nifty closes above that, further upside can be expected towards 15000-15080 mark. On the flip side 14730-14670 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 14900 and on a decisive close above expect a rise to 14940-15000 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 32900 levels on the upside and on a decisive close above expect a rise to 33200-33640. There is an immediate support at 32640-32380 levels.

Technical Call Updates

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