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Market Review:

Indian market ended with decent gains on Thursday, extending their winning streak for third consecutive session. The barometer index, the S&P BSE Sensex, rose 157.45 points or 0.27% to 58,807.13. The Nifty 50 index added 47.10 points or 0.27% to 17,516.85.

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 17540. If nifty closes above that, further upside can be expected towards 17600-17670 mark. On the flip side 17400-17350 will act as strong support levels. It’s a stock specific market and trade calls with strict stop loss

Action: Nifty has an immediate resistance placed at 17540 and on a decisive close above expect a rise to17600-17670 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 37120 levels on the upside and on a decisive close above expect a rise to 37360-37600 There is an immediate support at 36850-36600 levels.

Technical Call Updates

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