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Market Review:

Indian markets ended higher for the second consecutive trading session. Healthcare and IT stocks experienced increased demand, while banks shares faced downward pressure. The barometer index, the S&P BSE Sensex advanced 232.23 points or 0.35% to 65,953.48. The Nifty 50 index added 80.30 points or 0.41% to 19,597.30.

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 19670. If nifty closes above that, further upside can be expected towards 19740-19850 mark. On the flip side 19500-19420 will act as strong support levels. It’s a stock specific market trade calls with strict stop loss.

Action: Nifty has an immediate resistance placed at 19670 and on a decisive close above expect a rise to 19740-19850 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 45200 levels on the upside and on a decisive close above expect a rise to 45500-45770. There is an immediate support at 44800-44550 levels.

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