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Market Review:

Indian markets ended with strong gains on Tuesday, supported by firmness in autos and private banks. Investors' sentiment improved as COVID-19 recoveries in India outnumbered fresh cases. The barometer index, the S&P BSE Sensex, advanced 612.60 points or 1.24% to 50,193.33. The Nifty 50 index added 184.95 points or 1.24% to 15108.10.

Nifty Technical Outlook

Nifty is expected to open gap down and likely to witness profit booking during the day. On technical grounds, Nifty has an immediate support at 15000. Any move below the same may extend the fall towards 14900-14780 mark. On the flip side 15200-15280 will act as strong resistance zones. It’s a stock specific market and trade calls with strict stop loss.

Action: Nifty has an immediate support placed at 15000 and on a decisive close below expect a fall to 14900-14780 levels.

Bank Nifty

Bank Nifty faces an immediate support around 33750 level on the downside and on a decisive close below expect a fall to 33400-33000. There is an Immediate resistance at 34300-34700 levels.

Technical Call Updates

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