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Market Review:

Indian markets ended almost flat on Tuesday. PSU banks and FMCG shares declined while metal and auto shares rallied. The barometer index, the S&P BSE Sensex declined 29.07 points or 0.04% to 66,355.71. The Nifty 50 index added 8.25 points or 0.04% to 19,680.60.

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 19740. If nifty closes above that, further upside can be expected towards 19820-19900 mark. On the flip side 19600-19500 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 19740 and on a decisive close above expect a rise to 19820-19900 levels

Bank Nifty

Bank Nifty faces an immediate resistance around 46150 levels on the upside and on a decisive close above expect a rise to 46370-46600. There is an immediate support at 45700-45500 levels

Technical Call Updates

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