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Market Review:

Indian markets settled with sharp gains on Friday. Banks and financial services stocks rallied. On the other hand, pharma, healthcare and energy shares declined. The Nifty 50 index gained 243.65 points or 1.38% to 17,854.05. The S&P BSE Sensex jumped 909.64 points or 1.52% to 60,841.88

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 17770. Any move below the same may extend the fall toward 17680-17480 mark. On the flip side 17940-18040 will act as strong resistance levels. It’s a stock specific market, trade calls with strict stop loss.

Action: Nifty has an immediate support placed at 17770 and on a decisive close below expect a fall to 17680-17480 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 41370 levels on the downside and on a decisive close below expect a fall to 41040-40700 There is an immediate resistance at 41960-42280 levels.

Technical Call Updates

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