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Market Review:

Indian markets closed lower on Tuesday due to weak global cues. Among the sectors, PSU banks and media performed well, while energy and auto shares lagged. The S&P BSE Sensex, was down 316.31 points or 0.48% to 65,512.10. The Nifty 50 index lost 109.55 points or 0.56% to 19,528.75.

Nifty Technical Outlook

Nifty is expected to open gap down and likely to witness selling pressure during the day. On technical grounds, Nifty has an immediate support at 19450. Any move below the same may extend the fall toward 19370-19300 mark. On the flip side 19600-19680 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 19450 and on a decisive close below expect a fall to 19370-19300 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 44350 levels on the downside and on a decisive close below expect a fall to 44000-43770. There is an immediate resistance at 44800-45000 levels.

Technical Call Updates

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