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Market Review:

Indian markets ended a volatile session with decent gains on Tuesday. Sentiment was fragile due to weak global cues. However, last-hour buying in IT, auto and metal stocks pushed the indices higher. The barometer index, the S&P BSE Sensex advanced 159.40 points or 0.25% at 63,327.70. The Nifty 50 index gained 61.25 points or 0.33% at 18,816.70.

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 18750. Any move below the same may extend the fall toward 18670-18600 mark. On the flip side 18880-19000 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 18750 and on a decisive close below expect a fall to 18670-18600 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 43550 levels on the downside and on a decisive close below expect a fall to 43280-43000. There is an immediate resistance at 44000-44200 levels.

Technical Call Updates

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