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Market Review:

Indian markets closed nearly unchanged on Tuesday. The upward momentum of Indian equities was affected by concerns over global uncertainties. Sectors focused on exports, such as IT and pharma, witnessed selling, while power and capital goods stocks gained traction. The S&P BSE Sensex rose 3.94 points or 0.01% to 65,220.03. The Nifty 50 index advanced 2.85 points or 0.01% to 19,396.45

Nifty Technical Outlook

Nifty is expected to open with on flattish note and is likely to remain rangebound during the day. On technical grounds, Nifty ia taking a support of 50- DMA i.e . 19330 mark. Any move below the same may extend the fall toward 19240-19170 mark. On the flip side 19440 will act as strong resistance level above that 19520/19600 may be seen. It’s a stock specific market, trade calls with strict stop loss.

Action: Nifty has an immediate support placed at 19330 and on a decisive close below expect a fall to 19240-19170 levels..

Bank Nifty

Bank Nifty’s next immediate support is around 44020 levels on the downside and on a decisive close below expect a fall to 43940/43840. There is an immediate resistance at 44170/44260 levels.

Technical Call Updates

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