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Market Review:

Indian markets ended with decent gains after a volatile session on Friday. IT, autos and banks shares were in demand. On the flip side, realty, consumer durables and media shares were under pressure. The barometer index, the S&P BSE Sensex, rose 104.92 points or 0.18% to 59,793.14. The Nifty 50 index gained 34.60 points or 0.19% to 17,8333.35.

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 17900. If nifty closes above that, further upside can be expected towards 18000-18100 mark. On the flip side 17750-17640 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 17900 and on a decisive close above expect a rise to 18000-18100 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 40750 levels on the upside and on a decisive close above expect a rise to 41000-41270. There is an immediate support at 40300-40000 levels.

Technical Call Updates

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