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Market Review:

Indian markets displayed resilience on Monday by recording its second consecutive day of gains. In the broader market, realty stocks were in demand while autos and consumer durables shares were under pressure. The S&P BSE Sensex jumped 329.85 points or 0.52% to 64,112.65. The Nifty 50 index added 93.65 points or 0.49% to 19,140.90.

Nifty Technical Outlook

Nifty is expected to open on a flattish note and likely to witness range bound move during the day. On technical grounds, Nifty has an immediate resistance at 19240. If nifty closes above that, further upside can be expected towards 19300-19380 mark. On the flip side 19000-18860 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 19240 and on a decisive close above expect a rise to 19300-19380 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 43560 levels on the upside and on a decisive close above expect a rise to 43820-44280. There is an immediate support at 42830-42360 levels.

Technical Call Updates

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