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MARKET REVIEW

* Equity benchmarks ended marginally lower on Monday after a choppy session.

* IT and oil and gas shares remained under pressure, while FMCG and consumer durables showed resilience.

* The S&P BSE Sensex tanked 322.39 points or 0.38% to 85,439.62. The Nifty 50 index dropped 78.25 points or 0.30% to 26,250.30.

NIFTY FUT CHART

NIFTY FUT TECHNICAL OUTLOOK

* Nifty is expected to open on a positive note and likely to witness positive move during the day.

* On technical grounds, Nifty has an immediate Resistance at 26440. If Nifty closes above that, further upside can be expected towards 26570-26640 mark.

* On the flip side 26240-26170 will act as strong support levels.

BANK NIFTY FUT CHART

BANK NIFTY FUT TECHNICAL OUTLOOK

* Bank Nifty is expected to open on a positive note and likely to witness positive move during the day.

* Bank Nifty’s next immediate resistance is around 60400 levels on the upside and on a decisive close above expect a rise to 60700-60990.

* There is an immediate support at 59940-59720 levels.

TECHNICAL CALL UPDATES

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