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Market Review:

Indian equity indices settled with significant gains on Thursday.Positive global cues and robust quarterly business updates by domestic firms supported buying. The barometer index, the S&P BSE Sensex, surged 488.10 points or 0.82% to 59,677,83. The Nifty 50 index added 144.35 points or 0.82% to 17,790.35

Nifty Technical Outlook

Nifty is expected to open positive likely to witness positive move during the day. On technical grounds, Nifty has an immediate resistance at 17840. If nifty closes above that, further upside can be expected towards 17900-17980 mark. On the flip side 17700-17640 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 17830 and on a decisive close above expect a rise to 17900-17980 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 37970levels on the upside and on a decisive close above expect a rise to 38240-38400. There is an immediate support at 37500-37300 levels.

Technical Call Updates

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