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Market Review:

Indian market benchmarks ended with marginal gains on Wednesday. Buying interest was seen in auto, consumer durables, and realty stocks, while FMCG and pharma shares slipped into the red. The S&P BSE Sensex rose 105.71 points or 0.13% to 80,746.78. The Nifty 50 index added 34.80 points or 0.14% to 24,414.40.

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 support at 24340. If Nifty closes below that, further downside can be expected towards 24270-24200 mark. On the flip side 24470-24540 will act as strong resistance levels.

Action: Nifty has an immediate support placed at 24340 and on a decisive close below expect a fall to 24270-24200 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 54240 levels on the downside and on a decisive close below expect a fall to 54000-53740 There is an immediate resistance at 55000-55270 levels.

Technical Call Updates

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