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Market Review:

Indian markets ended with strong gains on Thursday amid positive global cues. The Nifty closed near the 15,750 level. Barring the Nifty Auto index, all sectoral indices on the NSE ended in green. The barometer index, the S&P BSE Sensex, rose 358.83 points or 0.69% at 52,300.47. The Nifty 50 index gained 102.40 points or 0.65% at 15,737.75.

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 15820. If nifty closes above that, further upside can be expected towards 15900-16000 mark. On the flip side 15650-15550 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 15820 and on a decisive close above expect a rise to 15900-16000 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 35500 levels on the upside and on a decisive close above expect a rise to 35900-36170. There is an immediate support at 35000-34650 levels.

Technical Call Updates

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