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Market Review:

Indian markets ended almost flat on Monday. Metals, realty and PSU banks were in demand. However, IT, healthcare and oil & gas stocks were under pressure. The barometer index, the S&P BSE Sensex, fell 33.9 points or 0.05% to 62,834.60. The Nifty 50 index added 4.95 points or 0.03% to 18,701.05.

Nifty Technical Outlook

Nifty is expected to open on a negative note and likely to witness sideways move during the day. On technical grounds, Nifty has an immediate support at 18630. Any move below the same may extend the fall toward 18540-18450 mark. On the flip side 18770-18840 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 18630 and on a decisive close below expect a fall to 18540-18450 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 43310 levels on the downside and on a decisive close below expect a fall to 43000-42750 There is an immediate resistance at 43770-44000 levels.

Technical Call Updates

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