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Market Review:

Indian markets surged to end near the day's high on Tuesday, led by firmness in in private banks and financial shares. Metals and pharma shares corrected. The barometer index, the S&P BSE Sensex, rose 584.41 points or 1.16% to 51,025.48. The Nifty 50 index added 142.20 points or 0.95% at 15,098.40.

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 15180. If nifty closes above that, further upside can be expected towards 15250-15340 mark. On the flip side 15000-14870 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 15180 and on a decisive close above expect a rise to 15250-15340 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 36200 levels on the upside and on a decisive close above expect a rise to 36450-36800. There is an immediate support at 35640-35350 levels.

Technical Call Updates

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