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Market Review:

Indian markets closed with marginal losses, extending the downward trend for the fourth consecutive day. PSU bank stocks outperformed due to India's inclusion in JP Morgan's Government Bond Index.The S&P BSE Sensex declined 221.09 points or 0.33% to 66,009.15. The Nifty 50 index lost 68.10 points or 0.34% to 19,674.25.

Nifty Technical Outlook

Nifty is expected to open flattish note and likely to witness sideways move during the day. On Technical grounds, Nifty has an immediate support at 19620. Any move below the same may extend the fall toward 19560-19500 mark. On the flip side 19760-19850 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 19620 and on a decisive close below expect a fall to 19560-19500 levels.

Bank Nifty

Bank Nifty’s immediate support is around 44480 levels on the downside and on a decisive close below expect a fall to 44280-44000. There is an immediate resistance at 44990-45300 levels.

Technical Call Updates

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