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Market Review:

Indian markets ended higher for the third consecutive session, with the Nifty closing above the 19,400 level after hitting a morning low of 19,366.60. banking stocks strengthened, driving a market recovery. The barometer index, the S&P BSE Sensex gained 213.27 points or 0.33% to 65,433.30. The Nifty 50 index added 47.55 points or 0.25% to 19,444.

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 19520. If nifty closes above that, further upside can be expected towards 19600-19750 mark. On the flip side 19370-19300 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 19520 and on a decisive close above expect a rise to 19600-19750 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 44600 levels on the upside and on a decisive close above expect a rise to 44870-45100 There is an immediate support at 44200-43820 levels.

Technical Call Updates

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