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Market Review:

Indian markets ended with almost flat on Friday, as investors booked profits at record high levels. Selling in IT and banks shares put pressure on indices. Shares of pharma and realty companies advanced in anticipation of strong Q1 earnings. The barometer index, the S&P BSE Sensex, slipped 18.79 points or 0.04% to 53,140.06. The Nifty 50 index lost 0.80 points or 0.01% to 15,923.40.

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 15820. Any move below the same may extend the fall towards 15730-15640 mark. On the flip side 16000-16080 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 15820 and on a decisive close below expect a fall to 15730-15640 levels.

Bank Nifty

Bank Nifty faces an immediate support around 35700 level on the downside and on a decisive close below expect a fall to 35550-35270. There is an Immediate resistance at 36100-36300 levels.

Technical Call Updates

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