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Market Review:

Indian market, bulls stormed Dalal Street on Friday, pushing the Nifty 50 index past 25,000, snapping a three-day losing streak.All NSE sectoral indices ended in the green, led by gains in realty and PSU bank stocks. The S&P BSE Sensex jumped 1,046.30 points or 1.29% to 82,408.17. The Nifty 50 index jumped 319.15 points or 1.29% to 25,112.40.

Nifty Technical Outlook

Nifty is expected to open on a gap down note and likely to witness sideways move during the day. On technical grounds, Nifty has an immediate support at 25000. If Nifty closes below that, further downside can be expected towards 24940-24870 mark. On the flip side 25200-25270 will act as strong resistance levels.

Action: Nifty has an immediate Support at 25000 and on a decisive close below expect a fall to 24940-24870 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 56000 levels on the downside and on a decisive close below expect a fall to 55740-55500. There is an immediate resistance at 56540-56770 levels.

Technical Call Updates

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