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Market Review:

Indian markets ended a range bound session with modest gains on Friday. The Nifty closed above the 15,400 level after hitting a record high of 15,469.65 in mid-afternoon trade. Banks and financial stocks were in demand while pharma shares corrected. The barometer index, the S&P BSE Sensex, advanced 307.66 points or 0.6% at 51,422.88. The Nifty 50 index gained 97.80 points or 0.64% to 15,435.65, its record closing high level.

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 support at 15350. Any move below the same may extend the fall towards 15250-15140 mark. On the flip side 15500-15600 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 15350 and on a decisive close below expect a fall to 15250-15140 levels.

Bank Nifty

Bank Nifty faces an immediate support around 35000 level on the downside and on a decisive close below expect a fall to 34650-34250. There is an Immediate resistance at 35600-35900 levels

Technical Call Updates

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