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Market Review:

Indian market ended slightly above the flat line on Friday. Shares in the oil & gas, media, and IT sectors advanced, while those consumer durables, metal and pharma sectors declined.The S&P BSE Sensex, added 259.75 points or 0.32% to 80,501.99. The Nifty 50 index rose 12.50 points or 0.05% to 24,346.70.

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 24440. If Nifty closes below that, further upside can be expected towards 24500-24570 mark. On the flip side 24270-24200 will act as strong support levels.

Action: Nifty has an immediate Resistance placed at 24440 and on a decisive close above expect a rise to 24500-24570 levels.

Bank Nifty

Bank Nifty’s next immediate resistance is around 55440 levels on the upside and on a decisive close above expect a rise to 55770-56000 There is an immediate support at 55000-54740 levels.

Technical Call Updates

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