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Market Review:

Indian markets concluded Thursday's trading session with significant gains. Key sectors contributing to the gains included metals, auto, and public sector banks.The S&P BSE Sensex surged 1,439.55 points or 1.77% to 82,962.71. The Nifty 50 index zoomed 470.45 points or 1.89% to 25,388.90.

Nifty Technical Outlook

Nifty is expected to open gap up and likely to witness range bound move during the day. On technical grounds, Nifty has an immediate resistance at 25500. If nifty closes above that, further upside can be expected towards 25580-25700 mark. On the flip side 25300-25200 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 25500 and on a decisive close above expect a rise to 25580-25700 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 52000 levels on the upside and on a decisive close above expect a rise to 52340-52600 There is an immediate support at 51370-51000 levels.

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