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Market Review:

Indian markets ended a volatile session with minor gains on Friday. Sentiment was fragile due to weak Asian cues. Autos and banks shares advanced while metals oil & gas shares declined. The S&P BSE Sensex was gained 123.38 points or 0.20% to 62,027.90. The Nifty 50 index added 17.80 points or 0.1% to 18,314.80.

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 18240. Any move below the same may extend the fall toward 18150-18040 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 18240 and on a decisive close below expect a fall to 18150-18040 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 43650 levels on the downside and on a decisive close below expect a fall to 43460-43120. There is an immediate resistance at 43970-44190 levels.

Technical Call Updates

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