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Market Review:

Indian market benchmarks ended sharply higher on Wednesday, buoyed by positive global cues as investor sentiment improved. A strong showing by IT and consumer durables stocks helped push the indices higher. The S&P BSE Sensex surged 700.40 points (0.85%) to close at 82,755.51, while the Nifty 50 jumped 200.40 points (0.80%) to 25,244.75.

Nifty Technical Outlook

Nifty is expected to open on a positive note and likely to witness range bound move during the day. On technical grounds, Nifty has an immediate resistance at 25300. If Nifty closes above that, further upside can be expected towards 25370-25440 mark. On the flip side 25170-25100 will act as strong support levels.

Action: Nifty has an immediate Resistance at 25300 and on a decisive close above expect a rise to 25370-25440 levels.

Bank Nifty

Bank Nifty’s next immediate resistance is around 56840 levels on the upside and on a decisive close above expect a rise to 57140-57400. There is an immediate support at 56370-56140 levels.

Technical Call Updates

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