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Market Review:

Indian markets ended a volatile session with minor gains on Tuesday. Global shares declined ahead of upcoming interest rate decision by major global central banks later this week. The barometer index, the S&P BSE Sensex rose 49.49 points or 0.08% to 59,549.90. The Nifty 50 index added 13.20 points or 0.07% to 17,662.15.

Nifty Technical Outlook

Nifty is expected to open gap up and likely to witness volatile move during the day due to the Union Budget. On technical grounds, Nifty has an immediate resistance at 17750. If nifty closes above that, further upside can be expected towards 17870-18000 mark. On the flip side 17550-17440 will act as strong support levels. It’s a stock specific market trade calls with strict stop loss.

Action: Nifty has an immediate resistance placed at 17750 and on a decisive close above expect a rise to 17870-18000 levels

Bank Nifty

Bank Nifty faces an immediate resistance around 41330 levels on the upside and on a decisive close above expect a rise to 41600-41840. There is an immediate support at 40800-40640 levels

Technical Call Updates

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