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Market Review:

Indian markets ended with slight declines on Friday. There was increased demand for FMCG and realty shares, while IT, banking, and financial sectors shares witnessed a decline. The barometer index, the S&P BSE Sensex declined 106.62 points or 0.16% to 66,160.20. The Nifty 50 index lost 13.85 points or 0.07% to 19,646.05.

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 19850-19940 mark. On the flip side 19570-19500 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 19850-19940 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 46000 levels on the upside and on a decisive close above expect a rise to 46240-46500. There is an immediate support at 45400-45150 levels.

Technical Call Updates

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