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Market Review:

Indian markets closed with robust gains on Monday. The Nifty ended near the 14,800 mark. Value buying emerged after India's GDP returned to positive territory after contracting for two straight quarters. The barometer index, the S&P BSE Sensex, surged 749.85 points or 1.53%at 49,849.84. The Nifty 50 index advanced 232.40 points or 1.60% at 14,761.55.

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 14880. If nifty closes above that, further upside can be expected towards 15000-15100 mark. On the flip side 14650-14540 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 14880 and on a decisive close above expect a rise to 15000-15100 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 36000-36300. There is an immediate support at 35000-34650 levels.

Technical Call Updates

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