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Market Review:

Indian markets ended a volatile session with minor gains on Tuesday. A strong bout of profit selling in late trade dragged the 50-unit index below the 15,800 mark. The barometer index, the S&P BSE Sensex, rose 14.25 points or 0.03% at 52,588.71. The index hit a record high of 53,057.11 in morning trade. The Nifty 50 index gained 26.25 points or 0.17% at 15,772.75.

Nifty Technical Outlook

Nifty is expected to open on a gap up note and likely to witness positive move during the day. On technical grounds, Nifty has an immediate resistance at 15900. If nifty closes above that, further upside can be expected towards 16000-16120 mark. On the flip side 15700-15600 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 15900 and on a decisive close above expect a rise to 16000-16120 levels

Bank Nifty

Bank Nifty faces an immediate resistance around 35140 levels on the upside and on a decisive close above expect a rise to 35500-36000. There is an immediate support at 34500-34240 levels.

Technical Call Updates

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