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Market Review:

Indian Market fell for the second consecutive session on Thursday, as weak economic data and persistent foreign fund outflows weighed on investor sentiment. The Sensex declined 148.14 points or 0.18% to 83,311.01. The Nifty 50 index fell 87.95 points or 0.34% to 25,509.70.

Nifty Technical Outlook

Nifty opened with a gap down; however, a recovery from support levels might be seen. On technical grounds, A sustained move above 25560 could trigger a short-covering rally towards 25630-25740 while failure to hold 25370 may extend weakness towards 25200. Traders are advised to stay selective and maintain a buy-on-dips approach near strong support zones.

Action: Nifty has an immediate Resistance at 25560 and on a decisive close above expect a rise to 25630-25740 levels.

Bank Nifty

Bank Nifty’s next immediate resistance is around 57970 levels on the upside and on a decisive close above expect a rise to 58100-58330. There is an immediate support at 57750-57600 levels.

Technical Call Updates

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