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Market Review: 

Indian markets ended the day with significant gains. PSU banks, metals and auto shares rallied, while media, consumer durables and pharma shares underperformed. The S&P BSE Sensex jumped 528.17 points or 0.79% to 67,127.08. The Nifty 50 index advanced 176.40 points or 0.89% to 19,996.35.

Nifty Technical Outlook

Nifty is expected to open gap up and likely to witness positive move during the day. On technical grounds, Nifty has an immediate resistance at 20070. If nifty closes above that, further upside can be expected towards 20140-20200 mark. On the flip side 45460-45230 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 20070 and on a decisive close above expect a rise to 20140-20200 levels. 

Bank Nifty 

Bank Nifty faces an immediate resistance around 45850 levels on the upside and on a decisive close above expect a rise to 46000-46150. There is an immediate support at 45460-45230 levels.

Technical Call Updates

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