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Market Review:

Indian markets advanced for the sixth consecutive day on Tuesday. The Sensex and the Nifty continued hitting new highs today, driven by the positive momentum by IT, banks and financial services stocks. The barometer index, the S&P BSE Sensex rose 274 points or 0.42% to 65,479.05. The Nifty 50 index added 66.45 points or 0.34% to 19,389.

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 19500. If nifty closes above that, further upside can be expected towards 19580-19670 mark. On the flip side 19300-19180 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 19500 and on a decisive close above expect a rise to 19580-19670 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 45700 levels on the upside and on a decisive close above expect a rise to 46000-46280. There is an immediate support at 45000-44750 levels.

Technical Call Updates

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