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Market Review:

Indian market benchmarks ended with modest gains yesterday. On the sectoral front, all NSE indices except Bank Nifty closed in the green, with auto, energy, and FMCG stocks leading the gains. The S&P BSE Sensex advanced 294.85 points or 0.37% to 80,796.84. The Nifty 50 index added 114.45 points or 0.47% to 24,461.15.

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 24540. If Nifty closes below that, further upside can be expected towards 24600-24670 mark. On the flip side 24400-24340 will act as strong support levels.

Action: Nifty has an immediate Resistance placed at 24540 and on a decisive close above expect a rise to 24600-24670 levels.

Bank Nifty

Bank Nifty’s next immediate resistance is around 55340 levels on the upside and on a decisive close above expect a rise to 55600-55870 There is an immediate support at 54870-54600 levels.

Technical Call Updates

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