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Market Review:

Indian markets ended with modest losses on Wednesday, snapping a three-day rising streak. Most sectors traded in sync with the trend and ended lower wherein metal, banking and financials were among the top losers. The barometer index, the S&P BSE Sensex, fell 208.01 points or 0.34% to 61,773.78. The Nifty 50 index lost 62.60 points or 0.34% to 18,285.40.

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 18200. Any move below the same may extend the fall toward 18120-18050 mark. On the flip side 18370-18440 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 18200 and on a decisive close below expect a fall to 18120-18050 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 43500 levels on the downside and on a decisive close below expect a fall to 43240-43000. There is an immediate resistance at 44000-44270 levels.

Technical Call Updates

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