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Market Review:

Indian markets ended with modest losses on the last trading day of the calender year 2022. Global shares declined as investors remain wary of persistently high inflation, monetary policy tightening from central banks. The barometer index, the S&P BSE Sensex, declined 293.14 points or 0.48% to 60,840.74. The Nifty 50 index lost 85.70 points or 0.47% to 18,105.30.

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 18000. Any move below the same may extend the fall toward 17930-17850 mark. On the flip side 18220-18300 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 18000 and on a decisive close below expect a fall to 17930-17850 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 42910 levels on the downside and on a decisive close below expect a fall to 42650-42300 There is an immediate resistance at 43500-43860 levels.

Technical Call Updates

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