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Market Review:

Indian markets ended near the day's high after a robust session on Thursday. Strong global cues boosted sentiment. Barring the Nifty Media index, all the sectoral indices on the NSE ended in the green. Banks, financials and realty shares were in demand. The barometer index, the S&P BSE Sensex, surged 958.03 points or 1.63% to 59,885.36. The Nifty 50 index advanced 276.30 points or 1.57% to 17,822.95.

Nifty Technical Outlook

Nifty is expected to open on a flattish note and likely to witness sideways move during the day. On technical grounds, Nifty has an immediate resistance at 17900. If nifty closes above that, further upside can be expected towards 18000-18080 mark. On the flip side 17730-17650 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 17900 and on a decisive close above expect a rise to 18000-18080 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 38100 levels on the upside and on a decisive close above expect a rise to 38320-38600. There is an immediate support at 37500-37220 levels.

Technical Call Updates

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