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Market Review:

Indian markets ended a volatile session with modest losses on Thursday. The Nifty ended below the 15,700 mark. Barring the IT and FMCG index, all the sectoral indices on the NSE ended in the red. The barometer index, the S&P BSE Sensex, lost 178.65 points or 0.34% to 52,323.33. The Nifty 50 index fell 76.15 points or 0.48% to 15,691.40.

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 15800. If nifty closes above that, further upside can be expected towards 15920-16000 mark. On the flip side 15600-15500 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 15800 and on a decisive close above expect a rise to 15920-16000 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 35000 levels on the upside and on a decisive close above expect a rise to 35270-35770. There is an immediate support at 34400-34150 levels.

Technical Call Updates

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