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MARKET REVIEW

* Equity benchmarks slipped on Monday as traders cashed out of midcaps and blue chips, sparking a broad selloff.

* All the sectorial indices on the NSE ended in the red, with Nifty PSU Bank index leading the decline.

* The S&P BSE Sensex declined 609.68 points or 0.71% to 85,102.69. The Nifty 50 index fell 225.90 points or 0.86% to 25,960.55.

NIFTY FUT CHART

NIFTY FUT TECHNICAL OUTLOOK

* Nifty is expected to open on a gap down note and likely to witness range bound move during the day.

* On technical grounds, Nifty has an immediate support at 25940. If Nifty closes below that, further downside can be expected towards 25870-25800.

* On the flip side 26200-26270 will act as strong resistance levels.

BANK NIFTY FUT CHART

BANK NIFTY FUT TECHNICAL OUTLOOK

* Bank Nifty is expected to open on a gap down note and likely to witness range bound move during the day.

* Bank Nifty’s next immediate support is around 59170 levels on the downside and on a decisive close below expect a fall to 58970-58740.

* There is an immediate resistance at 59900-60170 levels.

TECHNICAL CALL UPDATES

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