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Market Review:

Indian markets ended near the day's high with strong gains on Tuesday amid positive global cues. Barring the Nifty Private bank index, all the sectoral indices on the NSE ended in the green. Auto and realty shares surged. The S&P BSE Sensex, gained 383.21 points or 0.63% to 61,350.26. The Nifty 50 index added 143 points or 0.79% to close at 18,268.40.

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 towards 18130-18050 mark. On the flip side 18350-18420 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 18200 and on a decisive close below expect a fall to 18130-18050 levels.

Bank Nifty

Bank Nifty faces an immediate support around 41000 levels on the downside and on a decisive close below expect a fall to 40730-40450. There is an immediate resistance at 41650-42000 levels.

Technical Call Updates

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