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Market Review:

Indian market benchmarks ended higher on Friday, breaking a two-day losing streak. The Nifty closed comfortably above the 25,450 level, powered by gains in energy and pharma stocks. However, metal and auto counters remained under pressure. The S&P BSE Sensex advanced 193.42 points or 0.23% to 83,432.89. The Nifty 50 index jumped 55.70 points or 0.22% to 25,461.

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 25540. If Nifty closes above that, further upside can be expected towards 25600-25670 mark. On the flip side 25370-25300 will act as strong support levels.

Action: Nifty has an immediate Resistance at 25540 and on a decisive close above expect a rise to 25600-25670 levels.

Bank Nifty

Bank Nifty’s next immediate resistance is around 57540 levels on the upside and on a decisive close above expect a rise to 57770-58000. There is an immediate support at 57000-56740 levels.

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