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Market Review:

Indian markets ended near the day's high with strong gains on Tuesday. While large caps settled higher, broader market ended in the red. The barometer index, the S&P BSE Sensex gained 562.75 points or 0.94% to 60,655.72. The Nifty 50 index added 158.45 points or 0.89% to 18,053.30.

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 18120. If nifty closes above that, further upside can be expected towards 18200-18300 mark. On the flip side 17940-17820 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 18120 and on a decisive close above expect a rise to 18200-18300 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 42560 levels on the upside and on a decisive close above expect a rise to 42780-43000 There is an immediate support at 42050-41750 levels.

Technical Call Updates

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