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Market Review:

Indian markets ended a volatile session with with losses amid negative global cues on Tuesday. Pharmaceutical, realty and auto stocks tumbled while metals and PSU Bank shares managed to end in the green. The barometer index, the S&P BSE Sensex, fell 273.51 points or 0.52% to 52,578.27. The Nifty 50 index lost 78 points or 0.49% to 15,746.45.

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 15840. If nifty closes above that, further upside can be expected towards 15920-16000 mark. On the flip side 15670-15600 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 15840 and on a decisive close above expect a rise to 15920-16000 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 35380-35700. There is an immediate support at 34600-34430 levels.

Technical Call Updates

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