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Market Review:

Indian markets gave up initial gains and ended with tiny losses on Tuesday, despite favourable cues from global equities. IT and FMCG stocks were in demand. High crude oil prices and firm US bond yields dented investors' sentiment. The S&P BSE Sensex, fell 31.12 points or 0.06% at 50,363.96. The Nifty 50 index declined 19.05 points or 0.13% at 14,910.45.

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 15000. If nifty closes above that, further upside can be expected towards 15100-15180 mark. On the flip side 14840-14750 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 15000 and on a decisive close above expect a rise to 15100-15180 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 35350 levels on the upside and on a decisive close above expect a rise to 35770-36100. There is an immediate support at 34650-34300 levels.

Technical Call Updates

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