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Market Review:

Indian markets ended with robust gains on Monday. Investors sentiment improved due to a steady decline in daily COVID-19 cases in India. Strength in other Asian stock markets also supported buying. The barometer index, the S&P BSE Sensex, advanced 514.56 points or 1% to 51,937.44. The Nifty 50 index gained 147.15 points or 0.95% to 15,582.80.

Nifty Technical Outlook

Nifty is expected to open on a flattish note and likely to witness positive move during the day. On technical grounds, Nifty has an immediate resistance at 15670. If nifty closes above that, further upside can be expected towards 15750-15840 mark. On the flip side 15440-15300 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 15670 and on a decisive close above expect a rise to 15750-15840 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 35850 levels on the upside and on a decisive close above expect a rise to 36140-36500. There is an immediate support at 35300-35000 levels.

Technical Call Updates

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