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Market Review:

Indian markets consolidated and closed almost unchanged on Friday. The FMCG and IT sectors seemed to have a good day as they ended on a positive note. On the other hand, the realty, metal, and auto sectors were under pressure. TThe barometer index, the S&P BSE Sensex advanced 22.71 points or 0.04% to 59,655.06. The Nifty 50 index lost 0.40 points to 17,624.05.

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 17700. If nifty closes above that, further upside can be expected towards 17770-17840 mark. On the flip side 17550-17470 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 17700 and on a decisive close above expect a rise to 17770-17840 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 42370 levels on the upside and on a decisive close above expect a rise to 42650-43000. There is an immediate support at 41940-41740 levels.

Technical Call Updates

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