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Market Review:

Indian markets ended with modest losses on Tuesday. The Nifty closed a tad below 15,750 mark. Mixed cues from other Asian stock markets kept sentiment under check. Fears of the third COVID-19 wave also spooked traders. The barometer index, the S&P BSE Sensex, fell 185.93 points or 0.35% to 52,549.66. The Nifty 50 index lost 66.25 points or 0.42% to 15,748.45.

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 15930-16000 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 15930-16000 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 35400 levels on the upside and on a decisive close above expect a rise to 35650-36000. There is an immediate support at 35000-34870 levels.

Technical Call Updates

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