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Market Review:

Indian market benchmarks closed with modest losses today, extending their losing streak for the second straight session. Sector-wise, PSU bank and metal stocks came under pressure, while consumer durables and healthcare stocks provided some support with notable gains. The S&P BSE Sensex fell 170.22 points or 0.20% to 83,239.47. The Nifty 50 index lost 48.10 points or 0.19% to 25,405.30.

Nifty Technical Outlook

Nifty is expected to open on a flattish note and likely to witness a range bound move during the day. On technical grounds, Nifty has an immediate resistance at 25470. If Nifty closes above that, further upside can be expected towards 25540-25600 mark. On the flip side 25370-25300 will act as strong support levels.

Action: Nifty has an immediate Resistance at 25470 and on a decisive close above expect a rise to 25540-25600 levels.

Bank Nifty

Bank Nifty’s next immediate resistance is around 57370 levels on the upside and on a decisive close above expect a rise to 57540-57800. There is an immediate support at 56840-56600 levels.

Technical Call Updates

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