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Market Review:

Indian markets ended with decent gains on Friday. The Nifty closed above the 15,700 mark. Metal stocks declined for fourth consecutive session. The barometer index, the S&P BSE Sensex, rose 166.07 points or 0.32% to 52,484.67. The Nifty 50 index rose 42.20 points or 0.27% to 15,722.20.

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 15900-16000 mark. On the flip side 15650-15550 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 15900-16000 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 35170 levels on the upside and on a decisive close above expect a rise to 35400-35750. There is an immediate support at 34740-34500 levels.

Technical Call Updates

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