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Market Review:

Indian markets ended with minor losses after a volatile session on Wednesday. Banks, metals and financial stocks ended higher while IT stocks witnessed steep pressure. The barometer index, the S&P BSE Sensex, slipped 224.11 points or 0.37% to 60,346.97. The Nifty 50 index declined 66.30 points or 0.37% to 18,003.75.

Nifty Technical Outlook

Nifty is expected to open positive note and likely to witness some positive move during the day. On technical grounds, Nifty has an immediate support at 17840. Any move below the same may extend the fall toward 17770-17700 mark. On the flip side 18100-18170 will act as strong resistance levels. It’s a stock specific market, trade calls with strict stop loss.

Action: Nifty has an immediate resistance placed at 18100 and on a decisive close above expect a rise to 18170/18240 levels

Bank Nifty

Bank Nifty faces an immediate resistance around 41800 levels on the upside and on a decisive close above expect a rise to 42000/42200. There is an immediate support at 41000/39800 levels.

Technical Call Updates

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