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Market Review:

Indian markets snapped their three-day rising streak and ended almost flat after a volatile session on Tuesday. IT and realty shares corrected after a recent rally. FMCG and consumer durables stocks bucked weak market trend. The barometer index, the S&P BSE Sensex, shed 17.43 points or 0.03% to 58,279.48. The Nifty 50 index lost 15.70 points or 0.09% to 17,362.10.

Nifty Technical Outlook

Nifty is expected to open gap up and likely to witness positive move during the day. On technical grounds, Nifty has an immediate resistance at 17440. If nifty closes above that, further upside can be expected towards 17520-17600 mark. On the flip side 17280-17200 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 17440 and on a decisive close above expect a rise to 17520-17600 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 36850 levels on the upside and on a decisive close above expect a rise to 37150-37500. There is an immediate support at 36300-36000 levels.

Technical Call Updates

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