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Market Review:

Indian market benchmarks snapped a three-day losing streak to end higher yesterday, supported by value buying in blue-chip stocks. The Nifty comfortably reclaimed the 24,800 level, while all NSE sectoral indices ended in the green, led by realty, pharma, and healthcare counters. The S&P BSE Sensex advanced 446.93 points or 0.55% to 81,337.95. The Nifty 50 index gained 140.20 points or 0.57% to 24,821.10.

Nifty Technical Outlook

Nifty is expected to open on a flattish note and likely to witness range bound move during the day. On technical grounds, Nifty has an immediate support at 24750. If Nifty closes below that, further downside can be expected towards 24670-24600 mark. On the flip side 24900-24970 will act as strong resistance levels.

Action: Nifty has an immediate Support at 24750 and on a decisive close below expect a fall to 24670-24600 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 56070 levels on the downside and on a decisive close below expect a fall to 55840-55570. There is an immediate resistance at 56570-56800 levels.

Technical Call Updates

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