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Market Review:

Indian markets ended with small losses after a volatile session on Friday. Pharma, IT, FMCG and PSU banks shares advanced. The barometer index, the S&P BSE Sensex, declined 154.89 points or 0.31% to 49,591.32. The Nifty 50 index lost 38.95 points or 0.26% to 14,834.85.

Nifty Technical Outlook

Nifty is expected to open gap down likely to witness negative move during the day. On technical grounds, Nifty has an immediate support at 14700. Any move below the same may extend the fall towards 14550-14470 mark. On the flip side 14920-15000 will act as strong resistance zones. It’s a stock specific market and trade calls with strict stop loss.

Action: Nifty has an immediate support placed at 14700 and on a decisive close below expect a fall to 14550-14470 levels.

Bank Nifty

Bank Nifty faces an immediate support around 32200 level on the downside and on a decisive close below expect a fall to 31750-31400. There is an Immediate resistance at 33150-33600 levels.

Technical Call Updates

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