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Market Review:

Indian markets advanced on Thursday. The mid- and small-cap sectors outshone the benchmark indices, with real estate, oil & gas, power, and consumption stocks taking the lead. The barometer index, the S&P BSE Sensex advanced 339.60 points or 0.52% to 65,785.64. The Nifty 50 index added 98.80 points or 0.51% to 19,497.30.

Nifty Technical Outlook

Nifty is expected to open on a flattish note and likely to witness sideways move during the day. On technical grounds, Nifty has an immediate resistance at 19600. If nifty closes above that, further upside can be expected towards 19680-19750 mark. On the flip side 19400-19320 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 19600 and on a decisive close above expect a rise to 19680-19750 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 46000-46300. There is an immediate support at 45100-44820 levels.

Technical Call Updates

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