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Market Review:

Indian benchmark ended higher for a second straight session as a buyback proposal from Infosys ignited a rally in IT names, helping the Nifty finish above 24,850 despite the weekly F&O expiry today. Investors now turn to inflation prints due later this week for cues on the policy path and near-term market direction. The S&P BSE Sensex added 314.02 points or 0.39% to 81,101.32. The Nifty 50 index rose 95.45 points or 0.39% to 24,868.60 .

Nifty Technical Outlook

Nifty is expected to open on a positive note and likely to witness positive move during the day. On technical grounds, Nifty has an immediate Resistance at 24940. If Nifty closes above that, further upside can be expected towards 25000-25070 mark. On the flip side 24800-24740 will act as strong support levels.

Action: Nifty has an immediate Resistance at 24940 and on a decisive close above expect a rise to 25000-25070 levels.

Bank Nifty

Bank Nifty’s next immediate resistance is around 54700 levels on the upside and on a decisive close above expect a rise to 54940-55170. There is an immediate support at 54240-54000 levels.

Technical Call Updates

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