Morning Market Outlook : Bank Nifty support is at 49000 then 48750 zones while resistance at 49500 then 50000 zones - Motilal Oswal Wealth Management

Morning Market Outlook
* Market is expected to open on a positive note due to strong performances in Asian markets and a rally in US Index Futures, following news that US President Donald Trump has delayed tariffs on Mexico and Canada for a month.
* This move, along with a cooling trade war, strong domestic manufacturing PMI data at a six-month high, and the Finance Minister's announcement in the Union Budget - especially the zero tax up to Rs12 lakh on the new tax regime - has likely boosted market sentiment.
* The Gift Nifty is up by 0.4%. Focus will be on Auto, NBFCs, Air conditioning, FMCG, and QSR, which are expected to perform positive following the budget announcement.
* Results Today - Titan, Asian Paints, Tata Power, Torrent Power, Godrej Properties, Thermax, Lemon Tree.
Nifty (CMP : 23361)
Nifty immediate support is at 23200 then 23100 zones while resistance at 23650 then 23800 zones.Now it has to hold above 23333 zones for an up move towards 23650 then 23800 zones whereas supports are placed at 23200 then 23100 zones.
Bank Nifty (CMP : 49210 )
Bank Nifty support is at 49000 then 48750 zones while resistance at 49500 then 50000 zones. Now it has to hold above 49000 zones for an up move towards 49500 then 50000 levels while on the downside support is seen at 49000 then 48750 zones.
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