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Market Review:

Indian Markets ended higher for the third straight session, supported by renewed foreign inflows, easing U.S. bond yields, a stronger rupee, and festive optimism. Gains in FMCG, healthcare, and consumer durables stocks, while IT and metal counters edged lower. The S&P BSE Sensex advanced 484.53 points or 0.58% to 83,952.19. The Nifty 50 added 124.55 points or 0.49% to 25,709.85.

Nifty Technical Outlook

Nifty is expected to open on a gap up note and likely to witness positive move during the day. On technical grounds, Nifty has an immediate Resistance at 25820. If Nifty closes above that, further upside can be expected towards 25940 -26100 mark. On the flip side 25550-25390 will act as strong support levels. The ‘three white soldiers’ candlestick pattern suggests that buyers are gaining control and taking the market in an upward direction.

Action: Nifty has an immediate Resistance at 25820 and on a decisive close above expect a rise to 25940-26100 levels.

Bank Nifty

Bank Nifty’s next immediate resistance is around 57980 levels on the upside and on a decisive close above expect a rise to 58210-58470. There is an immediate support at 57460-57170 levels.

Technical Call Updates

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