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Market Review:

Indian market benchmark closed with minor gains yesterday, buoyed by positive global trade developments. Sector-wise, energy, IT, and pharma shares were in demand, while banks and FMCG stocks corrected. The S&P BSE Sensex added 123.42 points or 0.15% to 82,515.14. The Nifty 50 index rose 37.15 points or 0.15% to 25,141.40.

Nifty Technical Outlook

Nifty is expected to open on a flattish note and likely to witness range bound move during the day. On technical grounds, Nifty has an immediate Resistance at 25200. If Nifty closes above that, further upside can be expected towards 25270-25340 mark. On the flip side 25100-25000 will act as strong Support levels.

Action: Nifty has an immediate Resistance at 25200 and on a decisive close above expect a rise to 25270-25340 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 57170-57440. There is an immediate support at 56440-56200 levels.

Technical Call Updates

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