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Market Review:

Indian markets ended with decent gains on Wednesday. Selective buying was seen in metals and oil & gas stocks. The barometer index, the S&P BSE Sensex rose 85.35 points or 0.14% to 63,228.51. The Nifty 50 index rose 39.75 points or 0.21% to 18,755.90.

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 18640. Any move below the same may extend the fall toward 18550-18500 mark. On the flip side 18820-18900 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 18640 and on a decisive close below expect a fall to 18550-18500 levels

Bank Nifty

Bank Nifty’s next immediate support is around 43800 levels on the downside and on a decisive close below expect a fall to 43500-43250. There is an immediate resistance at 44500-44770 levels.

Technical Call Updates

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