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Market Review:

Indian markets inched higher today, clawing back some losses after a volatile session. Investor jitters surrounding the upcoming Fed meeting outcome kept things on edge, but positive Asian cues and strong domestic inflows provided some support. Auto and energy stocks led the gains, while metals and private banks dragged.The S&P BSE Sensex, was up 89.64 points or 0.12% to 72,101.69. The Nifty 50 index rose 21.65 points or 0.10% to 21,839.10.

Nifty Technical Outlook

Nifty is expected to open gap up and likely to witness positive move during the day. On technical grounds, Nifty has an immediate resistance at 22000. If nifty closes above that, further upside can be expected towards 22080-22200 mark. On the flip side 21900-21780 will act as strong support levels. It’s a stock specific market trade calls with strict stop loss.

Action: Nifty has an immediate resistance placed at 22000 and on a decisive close above expect a rise to 22080-22200 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 46840 levels on the upside and on a decisive close above expect a rise to 47200-47500 There is an immediate support at 46240-46000 levels.

Technical Call Updates

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