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Market Review:

Indian markets ended with strong gains on Tuesday, tracking positive cues from other Asian stock markets. Banks and financial stocks advanced, followed by metal and pharma shares while media, IT and FMCG stocks declined. The barometer index, the S&P BSE Sensex, advanced 397.04 points or 0.76% to 52,769.73. The Nifty 50 index added 119.75 points or 0.76% to 15,812.35.

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 15740. Any move below the same may extend the fall towards 15650-15570 mark. On the flip side 15900-16000 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 15740 and on a decisive close below expect a fall to 15650-15570 levels.

Bank Nifty

Bank Nifty faces an immediate support around 35550 level on the downside and on a decisive close below expect a fall to 35300-35000. There is an Immediate resistance at 36000-36250 levels.

Technical Call Updates

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