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Market Review:

Indian markets surged to record high levels on Friday. The global market was uplifted by a favorable revision in Q1 GDP, a decrease in jobless claims, and the successful outcome of the Fed's US bank stress test. The barometer index, the S&P BSE Sensex soared 803.14 points or 1.26% to 64,718.56. The Nifty 50 index climbed 216.95 points or 1.14% to 19,189.05.

Nifty Technical Outlook

Nifty is expected to open on a flattish note and likely to witness positive move during the day. On technical grounds, Nifty has an immediate resistance at 19250. If nifty closes above that, further upside can be expected towards 19340-19420 mark. On the flip side 19100-19000 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 19250 and on a decisive close above expect a rise to 19340-19420 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 45140 levels on the upside and on a decisive close above expect a rise to 45500-45800. There is an immediate support at 44640-44420 levels.

Technical Call Updates

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