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Market Review:

Indian markets ended with modest losses on Thursday. Auto shares witnessed value buying following monthly sales data. Trading was volatile due to expiry of weekly index options on the NSE. The barometer index, the S&P BSE Sensex, fell 164.11 points or 0.31% to 52,318.60. The Nifty 50 index lost 41.50 points or 0.26% to 15,680.

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 15750. If nifty closes above that, further upside can be expected towards 15820-15900 mark. On the flip side 15600-15500 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 15750 and on a decisive close above expect a rise to 15820-15900 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 35100 levels on the upside and on a decisive close above expect a rise to 35300-35750. There is an immediate support at 34700-34500 levels.

Technical Call Updates

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