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Market Review:

Indian markets ended with strong gains on Thursday. Barring the Nifty Oil & Gas index, all the sectoral indices on the NSE ended in the green. Auto and IT shares were in demand. The barometer index, the S&P BSE Sensex, rose 443.19 points or 0.86% to 52,265.72. The Nifty 50 index gained 143.35 points or 0.93% to 15,556.65.

Nifty Technical Outlook

Nifty is expected to open gap up and likely to witness positive move during the day. Nifty is likely to test it’s swing resistance of 15740 levels in coming sessions. On technical grounds, Nifty has an immediate resistance at 15650. If nifty closes above that, further upside can be expected towards 15740-15830 mark. On the flip side 15440-15350 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 15740-15830 levels.

Bank Nifty

Bank Nifty has shown a good rally in the second half in yesterdays trading session. Bank Nifty faces an immediate resistance around 33540 levels on the upside and on a decisive close above expect a rise to 33880-34140. There is an immediate support at 32900-32670 levels.

Technical Call Updates

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