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Market Review:

Indian markets hit record high levels for a second straight session on Tuesday, boosted by Bharti Airtel and Bajaj twins. Positive Asian cues also boosted sentiment. The Sensex climbed 57,500 mark for the first time ever while the Nifty scaled 17,100 level. The barometer index, the S&P BSE Sensex, soared 662.63 points or 1.16% at 57,552.39. The Nifty 50 index surged 201.15 points or 1.19% at 17,132.20.

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 17200. If nifty closes above that, further upside can be expected towards 17300-17380 mark. On the flip side 17070-17000 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 17200 and on a decisive close above expect a rise to 17300-17380 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 36700 levels on the upside and on a decisive close above expect a rise to 37000-37250. There is an immediate support at 36300-36000 levels.

Technical Call Updates

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