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Market Review:

Indian markets recovered with mild gains on Monday, breaking a twoday losing streak. The IT sector's performance contributed to the positive momentum. Investors are eagerly awaiting the comments of the Fed chair regarding interest rates as they seek clarity. The S&P BSE Sensex advanced 267.43 points or 0.41% to 65,216.09. The Nifty 50 index added 83.45 points or 0.43% to 19,393.60

Nifty Technical Outlook

Nifty is expected to open with on flattish note and is likely to remain rangebound during the day. On technical grounds, Nifty ia taking a support of 50- DMA i.e . 19300 mark. Nifty has an immediate resistance at 19,470, any move above the same may extend the rally towards 19540/19640. On the flip side 19300/19240 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 19470 and on a decisive close above expect a rise to 19540/19640 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 44250 levels on the upside and on a decisive close above expect a rise to 44400/44570. There is an immediate support at 43940/43760 levels.

Technical Call Updates

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