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Market Review:

Indian benchmark ended lower on Monday, with the Nifty 50 breaking an eight-session winning streak. The Nifty slipped below the 25,100 mark, while realty, PSU banks and energy shares gained but IT and auto counters declined. The S&P BSE Sensex declined 118.96 points or 0.15% to 81,785.74. The Nifty 50 index shed 44.80 points or 0.18% to 25,069.20. In the past eight sessions, the 50 unit index climbed 2.17%.

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 25000. If Nifty closes below that, further downside can be expected towards 24940-24870 mark. On the flip side 25140-25200 will act as strong resistance levels.

Action: Nifty has an immediate Support at 25000 and on a decisive close below expect a fall to 24940-24870 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 54870 levels on the downside and on a decisive close below expect a fall to 54640-54400. There is an immediate resistance at 55350-55600 levels.

Technical Call Updates

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