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Market Review:

Indian markets ended with decent gains on Wednesday amid positive global cues. The Nifty closed above the 15,150 mark. Trading was volatile due to expiry of weekly index options. The barometer index, the S&P BSE Sensex, added 254.03 points or 0.50% to 51,279.51. The Nifty 50 index gained 76.40 points or 0.51% at 15,174.80.

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 15230. If nifty closes above that, further upside can be expected towards 15300-15400 mark. On the flip side 15100-15000 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 15230 and on a decisive close above expect a rise to 15300-15400 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 36240 levels on the upside and on a decisive close above expect a rise to 36450-36800. There is an immediate support at 35800-35600 levels.

Technical Call Updates

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