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Market Review:

Indian markets ended with steep losses on Tuesday as mixed global cues and rising COVID-19 cases weighed on investors sentiment. The barometer index, the S&P BSE Sensex, fell 465.01 points or 0.95% at 48,253.51. The Nifty 50 index declined 137.65 points or 0.94% at 14,496.50.

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 14650. If nifty closes above that, further upside can be expected towards 14770-14850 mark. On the flip side 14400-14300 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 14650 and on a decisive close above expect a rise to 14770-14850 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 33000 levels on the upside and on a decisive close above expect a rise to 33450-33800. There is an immediate support at 32000-31700 levels

Technical Call Updates

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