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Market Review:

Indian markets ended with decent gains on Friday. The performance across sectors was mixed, with the auto and IT sectors registering strong gains, while the realty and FMCG sectors ended in the negative territory. The S&P BSE Sensex advanced 319.63 points or 0.47% to 67,838.63. The Nifty 50 index added 89.25 points or 0.44% to 20,192.35.

Nifty Technical Outlook

Nifty is expected to open on a flattish note and likely to witness sideways move during the day. On technical grounds, Nifty has an immediate resistance at 20240. If nifty closes above that, further upside can be expected towards 20280-20330 mark. On the flip side 20140-20080 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 20240 and on a decisive close above expect a rise to 20280-20330 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 46400 levels on the upside and on a decisive close above expect a rise to 46520-46670. There is an immediate support at 46140-45940 levels.

Technical Call Updates

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