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Market Review:

Indian markets advanced for the fourth trading session on Thursday. The Nifty closed a tad below 14,900 level after briefly crossing the 15,000 mark in early trade. . Metal stocks continued to outshine other sectors on strong outlook. The barometer index, the S&P BSE Sensex, rose 32.10 points or 0.06% at49,765.94. The Nifty 50 index added 30.35 points or 0.20% at 14,894.90.

Nifty Technical Outlook

Nifty is expected to open gap down likely to witness profit booking during the day. On technical grounds, Nifty has an immediate support at 14770. Any move below the same may extend the fall towards 14650-14500 mark. On the flip side 15000-15100 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 14770 and on a decisive close below expect a fall to 14650-14500 levels.

Bank Nifty

Bank Nifty faces an immediate support around 33250 level on the downside and on a decisive close below expect a fall to 32840-32400. There is an Immediate resistance at 34170-34600 levels.

Technical Call Updates

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