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Market Review:

Indian markets advanced for the second session and closed near the day's high with strong gains on Tuesday. The Sensex settled above the 50,000 mark while the Nifty managed to close above the 14,900 mark. The barometer index, the S&P BSE Sensex, climbed 447.05 points or 0.90% at 50,296.89. The Nifty 50 index surged 157.55 points or 1.07% at 14,919.10.

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 resistance at 15000. If nifty closes above that, further upside can be expected towards 15080-15150 mark. On the flip side 14800-14680 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 15000 and on a decisive close above expect a rise to 15080-15150 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 35800 levels on the upside and on a decisive close above expect a rise to 36170-36500. There is an immediate support at 35000-34650 levels.

Technical Call Updates

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