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Market Review:

Indian markets surged to record high levels on Thursday, as euphoria surrounding the Union Budget continued for fourth trading session. The Nifty closed a tad below the crucial 14,900 mark after scaling that level in intraday trade. The S&P BSE Sensex, added 358.54 points or 0.71% at 50,614.29. The Nifty 50 index surged 105.70 points or 0.71% at 14,895.65.

Nifty Technical Outlook

Nifty is expected to open gap up and likely to witness positive 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 15080-15150 mark. On the flip side 14770-14650 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 15080-15150 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 35770 levels on the upside and on a decisive close above expect a rise to 36000-36340. There is an immediate support at 35000-34640 levels.

Technical call updates

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