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Market Review:

Indian markets ended with strong gains on Tuesday, amid favorable global & domestic cues. All the sectoral indices on the NSE ended higher. PSU banks shares surged. Meanwhile, healthcare and pharma shares lagged. The S&P BSE Sensex surged 549.62 points or 0.94% to 58,960.60. The Nifty 50 index gained 175.15 points or 1.01% to 17,486.95.

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 17580. If nifty closes above that, further upside can be expected towards 17650-17750 mark. On the flip side 17400-17320 will act as strong support levels. It’s a stock specific market trade calls with strict stop loss.

Action: Nifty has an immediate resistance placed at 17580 and on a decisive close above expect a rise to 17650-17750 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 40650 levels on the upside and on a decisive close above expect a rise to 41000-41400. There is an immediate support at 40000-39740 levels.

Technical Call Updates

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