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Market Review:

Indian markets gained moderately on Monday. PSU banks, IT and metal shares rallied while FMCG and consumer durables stocks lagged. the S&P BSE Sensex, was up 240.98 points or 0.37% to 65,628.14. The Nifty 50 index added 93.50 points or 0.48% to 19,528.80.

Nifty Technical Outlook

Nifty is expected to open flattish note and likely to witness sideways move during the day. On Technical grounds, Nifty has an immediate support at 19460. Any move below the same may extend the fall toward 19390-19300 mark. On the flip side 19570-19620 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 19460 and on a decisive close below expect a fall to 19390-19300 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 44330 levels on the downside and on a decisive close below expect a fall to 43880-43600. There is an immediate resistance at 45060-45330 levels.

Technical Call Updates

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