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Market Review:

Indian markets witnessed a tumultuous session on Tuesday. In the broader market, realty, media and consumer durables shares were in demand. The Sensex wrapped up the day 237.72 points lower, representing a 0.37% decrease, settling at 63,874.93. Similarly, the Nifty 50 experienced a slide of 61.30 points, or 0.32%, ending at 19,079.60.

Nifty Technical Outlook

Nifty is expected to open on a flattish note and likely to witness sideways move during the day. On Technical grounds, Nifty has an immediate support at 19000. Any move below the same may extend the fall toward 18940-18870 mark. On the flip side 19200-19300 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 19000 and on a decisive close below expect a fall to 18940-18870 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 42860 levels on the downside and on a decisive close below expect a fall to 42650-42280. There is an immediate resistance at 43450-43820 levels.

Technical Call Updates

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