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Market Review:

Indian markets extended losses for the sixth straight session on Friday. Both barometer indices fluctuated between gains and losses in a highly volatile session. Weak global cues triggered selling pressure. The barometer index, the S&P BSE Sensex, tumbled 588.59 points or 1.26% to 46,285.77. The Nifty 50 index lost 182.95 points or 1.32% to 13,634.60.

Nifty Technical Outlook

Nifty is expected to open on a flattish note and likely to witness volatile move during the day. On technical grounds, Nifty has an immediate resistance at 13750. If nifty closes above that, further upside can be expected towards 13870-14000 mark. On the flip side 13500-13360 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 13750 and on a decisive close above expect a rise to 13870-14000 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 30740 levels on the upside and on a decisive close above expect a rise to 31000-31280. There is an immediate support at 30400-30000 levels.

Technical call updates

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