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Market Review:

Indian markets ended near the flat line after a volatile day on Friday. Metals and FMCG shares corrected while banks and financials advanced. The barometer index, the S&P BSE Sensex, rose 12.78 points or 0.02% to 51,544.30. The Nifty 50 index lost 10 points or 0.07% to 15,163.30.

Nifty Technical Outlook

Nifty is expected to open gap up likely to witness positive move during the day. On technical grounds, Nifty has an immediate resistance at 15250. If nifty closes above that, further upside can be expected towards 15340-15420 mark. On the flip side 15000-14930 will act as strong support levels. It’s a stock specific market trade calls with strict stoploss.

Action: Nifty has an immediate resistance placed at 15250 and on a decisive close above expect a rise to 15340-15420 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 36400 levels on the upside and on a decisive close above expect a rise to 36700-37000. There is an immediate support at 35750-35440 levels.

Technical Call Updates

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