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Market Review:

Indian markets ended a volatile session with small gains on Wednesday. Global cues were mixed as investors look forward to Fed Chairman Jerome Powell's speech on Friday at the Jackson Hole annual economic symposium. The barometer index, the S&P BSE Sensex added 54.13 points or 0.09% to 59,085.43. The Nifty 50 index gained 27.45 points or 0.16% to 17,604.95.

Nifty Technical Outlook

Nifty is expected to open gap up and likely to witness positive move during the day. Nifty is well placed above all its moving averages. On technical grounds, Nifty has an immediate resistance at 17670. If nifty closes above that, further upside can be expected towards 17750- 17840 mark. On the flip side 17530-17450 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 17670 and on a decisive close above expect arise to 17750-17840 levels.

Bank Nifty

Bank Nifty has shown a strong rally in last few trading sessions. Bank Nifty faces an immediate resistance around 39270 levels on the upside and on a decisive close above expect a rise to 39500-39800. There is an immediate support at 38750-38500 levels.

Technical Call Updates

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