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Market Review:

Indian markets ended with small gains on Thursday. IT and media shares climbed while metals and realty shares declined. The S&P BSE Sensex gained 142.43 points or 0.23% to 60,806.22. The Nifty 50 index added 21.75 points or 0.12% to 17,893.45.

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 17800. Any move below the same may extend the fall toward 17730-17650 mark. On the flip side 17940-18000 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 17800 and on a decisive close below expect a fall to 17730-17650 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 41470 levels on the downside and on a decisive close below expect a fall to 41220-41000. There is an immediate resistance at 41860-42000 levels

Technical Call Updates

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