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Market Review:

Indian markets ended higher on Wednesday. Realty, metals and FMCG shares outperformed while banks and pharma stocks lagged. All eyes are now on the RBI's credit policy announcement on Thursday. The barometer index, the S&P BSE Sensex advanced 350.08 points or 0.56% to 63,142.96. The Nifty 50 index gained 127.40 points or 0.68% to 18,726.40.

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 18800. If nifty closes above that, further upside can be expected towards 18900-19000 mark. On the flip side 18660-18600 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 18800 and on a decisive close above expect a rise to 18900-19000 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 44670 levels on the upside and on a decisive close above expect a rise to 45000-45280. There is an immediate support at 44000-43740 levels.

Technical Call Updates

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