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Market Review:

Indian markets ended with decent gains on Wednesday, led by strength in IT shares. The Nifty closed above the 15,850 mark. Banks and financials stocks were under pressure. The barometer index, the S&P BSE Sensex, rose 134.32 points or 0.25% to 52,904.05. The Nifty 50 index added 41.60 points or 0.26% to 15,853.95.

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 15920. If nifty closes above that, further upside can be expected towards 16000-16080 mark. On the flip side 15770-15700 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 15920 and on a decisive close above expect a rise to 16000-16080 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 36000 levels on the upside and on a decisive close above expect a rise to 36250-36550. There is an immediate support at 35550-35300 levels.

Technical Call Updates

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