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Market Review:

Indian benchmark eked out modest gains on Thursday, stretching their winning streak to a sixth straight session. The Nifty closed above the 25,050 mark, lifted by strength in pharma and healthcare counters, while FMCG, PSU bank and auto stocks dragged on the upside. The S&P BSE Sensex advanced 142.87 points or 0.17% to 82,000.71. The Nifty 50 index added 0.13 points or 0.33.20% to 25,083.75.

Nifty Technical Outlook

Nifty is expected to open on a negative note and likely to witness negative 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 25140-25220 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 55640 levels on the downside and on a decisive close below expect a fall to 55400-55170. There is an immediate resistance at 56140-56370 levels.

Technical Call Updates

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