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Market Review:

Indian markets near the day's high with strong gains on Tuesday. Favourable domestic economic numbers and positive global cues underpinned investors' sentiments. PSU banks soared while IT shares witnessed value buying. However, realty, consumer durables and FMCG shares declined. BSE Sensex, gained 402.73 points or 0.65% to 62,533.30. The Nifty 50 index added 110.85 points or 0.60% to 18,608

Nifty Technical Outlook

Nifty is expected to open on a gap up note and likely to witness positive move during the day. On technical grounds, Nifty has an immediate resistance at 18720. If nifty closes above that, further upside can be expected towards 18820/18900 mark. On the flip side 18570/18440 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 18720 and on a decisive close above expect a rise to 18820/18900 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 44200 levels on the upside and on a decisive close above expect a rise to 44200/44400. There is an immediate support at 43800/43500 levels.

Technical Call Updates

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