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Market Review:

Indian markets bounced off early lows and settled higher on Wednesday. Global shares were under pressure after a blast in Poland that Ukraine and Polish authorities said was caused by a Russian-made missile. BSE Sensex, advanced 107.73 points or 0.17% to 61,980.72, its record closing high. The Nifty 50 index added 6.25 points or 0.03% to 18,409.65

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 18340. Any move below the same may extend the fall toward 18270-18200 mark. On the flip side 18550 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 18340 and on a decisive close below expect a fall to 18270-18200 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 42370 levels on the downside and on a decisive close below expect a fall to 42070-41900. There is an immediate resistance at 42700-42870 levels.

Technical Call Updates

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