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Market Review:

Indian markets ended near the day's high with strong gains on Tuesday. Barring the Nifty Auto index, all the sectoral indices ended higher. Realty, FMCG and media shares rallied. The barometer index, the S&P BSE Sensex advanced 418.45 points or 0.67% to 63,413.16. The Nifty 50 index rose 114.65 points or 0.62% to 18,716.15.

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 18800. If nifty closes above that, further upside can be expected towards 18880-19000 mark. On the flip side 18640-18550 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 18800 and on a decisive close above expect a rise to 18880-19000 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 44500 levels on the upside and on a decisive close above expect a rise to 44740-45000. There is an immediate support at 44000-43870 levels.

Technical Call Updates

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