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Market Review:

Indian markets ended with modest gains after a volatile session on Thursday. Metal, PSU banks, realty and IT stocks edged higher, FMCG, pharma and auto shares edged lower. The barometer index, the S&P BSE Sensex, advanced 209.36 points or 0.4% to 52,653.07. The Nifty 50 index added 69.05 points or 0.44% to 15,778.45.

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 15700. Any move below the same may extend the fall towards 15630-15550 mark. On the flip side 15850-15920 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 15700 and on a decisive close below expect a fall to 15630-15550 levels.

Bank Nifty

Bank Nifty faces an immediate support around 34550 level on the downside and on a decisive close below expect a fall to 34300-34000. There is an Immediate resistance at 34850-35000 levels.

Technical Call Updates

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