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Market Review:

Indian markets dropped on Friday, sliding for the second consecutive trading session. On the other hand, PSU banks, realty, and metal shares tumbled. The S&P BSE Sensex slipped 365.83 points or 0.56% to 64,886.51. The Nifty 50 index lost 120.90 points or 0.62% to 19,265.80.

Nifty Technical Outlook

Nifty is expected to open on a positive note and likely to witness sideways move during the day. On technical grounds, Nifty has an immediate resistance at 19350. If nifty closes above that, further upside can be expected towards 19430-19500 mark. On the flip side 19200-19100 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 19350 and on a decisive close above expect a rise to 19430-19500 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 44350 levels on the upside and on a decisive close above expect a rise to 44460-44600. There is an immediate support at 44000-43850 levels.

Technical Call Updates

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