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Market Review:

Indian markets ended with small losses on Thursday, sliding for the second consecutive session. Realty, pharma and healthcare stocks advanced, while banks financial stocks were under pressure. The barometer index, the S&P BSE Sensex declined 193.70 points or 0.31% at 62,428.54. The Nifty 50 index fell 46.65 points or 0.25% at 18,487.75.

Nifty Technical Outlook

Nifty is expected to open gap up and likely to witness positive move during the day. On technical grounds, Nifty has an immediate resistance at 18570. If nifty closes above that, further upside can be expected towards 18640-18700 mark. On the flip side 18400-18330 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 18570 and on a decisive close above expect a rise to 18640-18700 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 44200 levels on the upside and on a decisive close above expect a rise to 44500-44750. There is an immediate support at 43740-43550 levels.

Technical Call Updates

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