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Market Review:

Indian markets ended with decent gains on Tuesday. The Nifty closed above the 15,850 mark. The Nifty closed above the 15,850 mark. Private banks and FMCG and media stocks advanced while pharma and PSU banks corrected. The barometer index, the S&P BSE Sensex, rose 221.52 points or 0.42% to 52,773.05. The Nifty 50 index added 57.40 points or 0.36% to 15,869.25.

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 15930. If nifty closes above that, further upside can be expected towards 16000-16120 mark. On the flip side 15800-15720 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 15930 and on a decisive close above expect a rise to 16000-16120 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 35550 levels on the upside and on a decisive close above expect a rise to 35780-36000. There is an immediate support at 35000-34700 levels.

Technical Call Updates

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