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Market Review:

Indian markets ended a roller-coaster session with minor gains on Monday. After hitting the day's low of 15,606.50 in early trade, the Nifty managed to reverse losses and settle above the 15,800 mark. The barometer index, the S&P BSE Sensex, added 76.77 points or 0.15% to 52,551.53. The Nifty 50 index advanced 12.50 points or 0.08% to 15811.85.

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 15900. If nifty closes above that, further upside can be expected towards 16000-16120 mark. On the flip side 15720-15640 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 15900 and on a decisive close above expect a rise to 16000-16120 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 35300 levels on the upside and on a decisive close above expect a rise to 35640-36000. There is an immediate support at 34640-34200 levels.

Technical Call Updates

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