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Market Review:

Indian market benchmarks staged a late rebound on Thursday, with the benchmark indices managing to shake off early jitters and end slightly in the green. IT and pharma stocks attracted strong buying interest, while energy and realty counters faced selling pressure. The S&P BSE Sensex added 79.27 points or 0.10% to 80,623.26. The Nifty 50 index rose 21.95 points or 0.09% to 24,596.15.

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 Support at 24500. If Nifty closes below that, further downside can be expected towards 24440-24370 mark. On the flip side 24670-24740 will act as strong resistance levels.

Action: Nifty has an immediate Support at 24500 and on a decisive close below expect a fall to 24440-24370 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 55500 levels on the downside and on a decisive close below expect a fall to 55270-55000. There is an immediate resistance at 56000-56240 levels.

Technical Call Updates

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