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Market Review:

Indian markets corrected on Friday, dragged by banks and financial stocks. The market encountered significant volatility, particularly within the banking and financial services sector. On the other hand, defensive plays like pharma, healthcare and FMCG stocks bucked the weak market trend. Sensex slipped 187.75 points or 0.28% to 65,794.73, The Nifty 50 index lost 33.40 points or 0.17% to 19,731.80

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 19670. Any move below the same may extend the fall toward 19600-19530 mark. On the flip side 19800-19870 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 19670 and on a decisive close below expect a fall to 19600-19570 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 43600 levels on the downside and on a decisive close below expect a fall to 43380-43200. There is an immediate resistance at 43970-44270 levels.

Technical Call Updates

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