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Market Review:

Indian Markets ended sharply higher, extending gains for the second straight session. The Nifty closed above the 25,280 mark, with realty, PSU bank, and pharma stocks leading the gains. The S&P BSE Sensex, advanced 328.72 points or 0.40% to 82,500.82. The Nifty 50 index added 103.55 points or 0.41% to 25,285.35. In the two trading session, the Sensex and Nifty jumped 0.89% and 0.96%, respectively.

Nifty Technical Outlook

Nifty is expected to open on a gap down note and likely to witness range bound move during the day. On technical grounds, Nifty has an immediate support at 25180. If Nifty closes below that, further downside can be expected towards 25080-25000 mark. On the flip side 25360-25430 will act as strong resistance levels.

Action: Nifty has an immediate Support at 25180 and on a decisive close below expect a fall to 25080-25000 levels

Bank Nifty

Bank Nifty’s next immediate support is around 56500 levels on the downside and on a decisive close below expect a fall to 56130-55870. There is an immediate resistance at 57120-57370 levels.

Technical Call Updates

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