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Market Review:

Indian markets ended almost flat after a volatile session on Tuesday. While selling was wide spread, most IT and pharma stocks managed to end in the green. the barometer index, the S&P BSE Sensex, fell 2.56 points to 51,934.88. The Nifty 50 index lost 7.95 points or 0.05% at 15,574.85.

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 15650. If nifty closes above that, further upside can be expected towards 15720-15850 mark. On the flip side 15500-15400 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 15650 and on a decisive close above expect a rise to 15720-15850 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 35750 levels on the upside and on a decisive close above expect a rise to 36000-36300. There is an immediate support at 35250-35000 levels.

Technical Call Updates

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