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Market Review:

Indian markets ended ended the day near unchanged. Pharma and auto sectors supported the indices, contributing to its overall stability. The barometer index, the S&P BSE Sensex fell 9.37 points or 0.01% to 62,970. The Nifty 50 index added 25.70 points or 0.14% to 18,691.20.

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 18750. If nifty closes above that, further upside can be expected towards 18840-18930 mark. On the flip side 18630-18550 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 18750 and on a decisive close above expect a rise to 18840-18930 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 44000 levels on the upside and on a decisive close above expect a rise to 44270-44500. There is an immediate support at 43350-43000 levels.

Technical Call Updates

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