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Market Review:

Indian markets ended with decent gains on Wednesday. PSU banks, financials and media shares advanced, while metals, FMCG and realty shares corrected. The S&P BSE Sensex rose by 195.45 points or 0.31% to reach 63,523.15. The Nifty 50 index increased by 40.15 points or 0.21% to reach 18,856.85.

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 18780. Any move below the same may extend the fall toward 18700-18600 mark. On the flip side 18920-19000 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 18780 and on a decisive close below expect a fall to 18700-18600 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 43650 levels on the downside and on a decisive close below expect a fall to 43300-43000. There is an immediate resistance at 44180-44500 levels.

Technical Call Updates

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