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Market Review:

Indian markets ended with strong gains on Thursday. Positive cues from other Asian stock markets boosted sentiment. The Nifty closed above the 15,900 mark. IT stocks were in demand. The barometer index, the S&P BSE Sensex, advanced 254.80 points or 0.48% to 53,158.85. The Nifty 50 index added 70.25 points or 0.44% to 15,924.20.

Nifty Technical Outlook.

Nifty is expected to open on a flattish note and likely to witness positive move during the day. On technical grounds, Nifty has an immediate resistance at 16000. If nifty closes above that, further upside can be expected towards 16080-16150 mark. On the flip side 15860-15770 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 16000 and on a decisive close above expect a rise to 16080-16150 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 36140 levels on the upside and on a decisive close above expect a rise to 36300-36550. There is an immediate support at 35770-35550 levels.

Technical Call Updates

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