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Market Review:

Indian markets advanced on Wednesday, tracking positive Asian stock markets. India's wholesale inflation easing to a 21-month low of 5.85% in November also boosted sentiment. Realty, metal and IT shares topped the list of gainers. BSE Sensex advanced 144.61 points or 0.23% to 62,677.91. The Nifty 50 index added 52.30 points or 0.28% to 18,660.30

Nifty Technical Outlook

Nifty is expected to open on a negative note and likely to witness profit booking during the day. On technical grounds, Nifty has an immediate support at 18570. If nifty closes below that, further downside can be expected towards 18500/18420 mark. On the flip side 18700/18770 will act as strong support levels. It’s a stock specific market trade calls with strict stop loss.

Action: Nifty has an immediate support placed at 18570 and on a decisive close below expect a fall to 18500/18440 levels.

Bank Nifty

Bank Nifty faces an immediate support around 44000 levels on the downside and on a decisive close below expect a fall to 43800/43600. There is an immediate resistance at 44200/44500 levels.

Technical Call Updates

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