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Market Review:

Indian markets settled with minor gains on Monday. Barring the Nifty Metal and Nifty Oil & Gas index, all the sectoral in the red. The barometer index, the S&P BSE Sensex gained 63.72 points or 0.10% to 65,344.17. The Nifty 50 index added 24.10 points or 0.12% to 19,355.90.

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 19420. If nifty closes above that, further upside can be expected towards 19500-19570 mark. On the flip side 19270-19200 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 19420 and on a decisive close above expect a rise to 19500-19570 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 45200 levels on the upside and on a decisive close above expect a rise to 45500-45770. There is an immediate support at 44740-44500 levels.

Technical Call Updates

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