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Market Review:

Indian markets had a volatile session on Wednesday but managed to end with decent gains. Back home, realty and oil & gas shares were in demand, while PSU banks, metals, and IT shares lagged. The barometer index, the S&P BSE Sensex advanced 178.87 points or 0.29% to 61,940.20. The Nifty 50 index added 49.15 points or 0.27% to 18,315.10.

Nifty Technical Outlook

Nifty is expected to open on a flattish note and likely to witness positive move during the day. On technical grounds, Nifty has an immediate resistance at 18400. If nifty closes above that, further upside can be expected towards 18500-18580 mark. On the flip side 18240-18180 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 18400 and on a decisive close above expect a rise to 18500-18580 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 43500 levels on the upside and on a decisive close above expect a rise to 43700-44000. There is an immediate support at 43000-42640 levels.

Technical Call Updates

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