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Market Review:

Indian markets surged for third consecutive session on Wednesday, as euphoria surrounding the Union Budget continued. The Nifty closed tad below the crucial 14,800 mark after scaling that level in intraday trade. The BSE Sensex, soared 458.03 points or 0.92% at 50,255.75. The Nifty 50 index surged 142.10 points or 0.97% at 14,789.95.

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 14900. If nifty closes above that, further upside can be expected towards 15000-15140 mark. On the flip side 14700-14620 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 14900 and on a decisive close above expect a rise to 15000-15140 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 35100 levels on the upside and on a decisive close above expect a rise to 35500-35870. There is an immediate support at 34550-34300 levels.

Technical call updates

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