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Market Review:

Indian markets ended lower on Thursday, snapping a two-day gaining streak. Consumer durables and PSU banks shares advanced. On the other hand, FMCG and oil & gas shares declined. The S&P BSE Sensex declined 388.40 points or 0.59% to 65,151.02. The Nifty 50 index lost 99.75 points or 0.51% to 19,365.25

Nifty Technical Outlook

Nifty is expected to open with gap down and is likely to remain under selling pressure during the day. On technical grounds, Nifty has an immediate support at 19300. Any move below the same may extend the fall toward 19240-19170 mark. On the flip side 19520 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 19300 and on a decisive close below expect a fall to 19240-19170 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 43900 levels on the downside and on a decisive close below expect a fall to 43770-43500. There is an immediate resistance at 44200-44370 levels.

Technical Call Updates

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