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Market Review:

Indian markets ended with robust gains on Friday, boosted by banks and financial stocks. All the sectoral indices on the NSE ended in the green. The moderation in daily new Covid cases in India improved risk sentiments. The barometer index, the S&P BSE Sensex, surged 975.62 points or 1.97% to 50,540.48. The Nifty 50 index jumped 269.25 points or 1.81% to 15,175.30.

Nifty Technical Outlook

Nifty is expected to open gap down and likely to witness profit booking during the day. On technical grounds, Nifty has an immediate support at 15100. Any move below the same may extend the fall towards 15000-14920 mark. On the flip side 15250-15340 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 15100 and on a decisive close below expect a fall to 15000-14920 levels

Bank Nifty

Bank Nifty faces an immediate support around 34350 level on the downside and on a decisive close below expect a fall to 34000-33650. There is an Immediate resistance at 35100-35500 levels.

Technical Call Updates

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