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Market Review:

Indian markets ended with robust gains in the extended trading session on Wednesday. The Nifty ended near the 15,000 mark. The barometer index, the S&P BSE Sensex, jumped 1,030.28 points or 2.07% to 50,781.69. The Nifty 50 index added 274.20 points or 1.86% to 14,982.

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 15100. If nifty closes above that, further upside can be expected towards 15180-15250 mark. On the flip side 14900-14800 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 15100 and on a decisive close above expect a rise to 15180-15250 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 36750 levels on the upside and on a decisive close above expect a rise to 37100-37500. There is an immediate support at 36000-35640 levels.

Technical Call Updates

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