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Market Review:

Indian market ended with moderate gains on Tuesday. Banking, financial services and healthcare stocks advanced while metal and media shares corrected. The S&P BSE Sensex gained 482.70 points or 0.68% to 71,555.19. The Nifty 50 index added 127.20 points or 0.59% to 21,743.25.

Nifty Technical

Outlook Nifty is expected to open gap down and likely to witness profit booking during the day. On technical grounds, Nifty has an immediate support at 21600. Any move below the same may extend the fall toward 21460-21370 mark. On the flip side 21840-21900 will act as strong resistance levels. It’s a stock specific market, trade calls with strict stop loss.

Action: Nifty has an immediate support placed at 21600 and on a decisive close below expect a fall to 21460-21370 levels.

Bank Nifty Bank Nifty’s next immediate support is around 45160 levels on the downside and on a decisive close below expect a fall to 44580-44160. There is an immediate resistance at 46160-46600 levels