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Market Review:

Indian markets ended with modest losses on Wednesday, tracking mixed Asian cues. A spike in U.S. benchmark bond yields and a strong dollar capped gains in equities. Trading was volatile ahead of monthly F&O expiry on Thursday, 30 September 2021. The barometer index, the S&P BSE Sensex, fell 254.33 points or 0.43% to 59,413.27. The Nifty 50 index fell 37.30 points or 0.21% to 17,711.30.

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 17630. Any move below the same may extend the fall towards 17550-17440 mark. On the flip side 17800-17870 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 17630 and on a decisive close below expect a fall to 17550-17440 levels.

Bank Nifty

Bank Nifty faces an immediate support around 37500 level on the downside and on a decisive close below expect a fall to 37120-36850. There is an Immediate resistance at 38150-38430 levels.

Technical Call Updates

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