Indian markets ended with strong gains on Monday - Nirmal Bang
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Market Review:
Indian markets ended with strong gains on Monday, boosted by strength in banks and financial shares. IT, metal and pharma shares witnessed selling. The Sensex closed above 52,000 mark and the Nifty closed above 15,300 mark. The barometer index, the S&P BSE Sensex, surged 609.83 points or 1.18% at 52,154.13. The Nifty 50 index rallied 151.40 points or 1% at 15,314.70.
Nifty Technical Outlook
Nifty is expected to open on a flattish note likely to witness sideways move during the day. On technical grounds, Nifty has an immediate resistance at 15400. If nifty closes above that, further upside can be expected towards 15470-15550 mark. On the flip side 15250-15170 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 15400 and on a decisive close above expect a rise to 15470-15550 levels.
Bank Nifty
Bank Nifty faces an immediate resistance around 37780 levels on the upside and on a decisive close above expect a rise to 38000-38350. There is an immediate support at 37000-36700 levels.
Technical Call Updates
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