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Market Review:

Indian markets scaled new all-time highs on Wednesday. The gains were widespread, with the pharma, metal and healthcare sectors leading the way as top performers, outshining other sectors. The barometer index, the S&P BSE Sensex, jumped 499.39 points or 0.79% to 63,915.42. The Nifty 50 index added 154.70 points or 0.82% to 18,972.10.

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 19180. If nifty closes above that, further upside can be expected towards 19240-19350 mark. On the flip side 19000-18880 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 19180 and on a decisive close above expect a rise to 19240-19350 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 45000-45240. There is an immediate support at 44000-43700 levels.

Technical Call Updates

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