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Market Review:

Indian markets displayed resilience today, achieving its second consecutive day of gains despite significant volatility. Continuous buying in IT and healthcare stocks effectively offset end-of-day profit booking. the S&P BSE Sensex jumped 306.55 points or 0.47% to 65,982.48. The Nifty 50 index added 89.75 points or 0.46% to 19,765.20.

Nifty Technical Outlook

Nifty is expected to open on a negative note and likely to remain cautious during the day. On technical grounds, Nifty has an immediate support at 19700. Any move below the same may extend the fall toward 19640-19600 mark. On the flip side 19840-19940 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 19700 and on a decisive close below expect a fall to 19640-19600 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 44150 levels on the downside and on a decisive close below expect a fall to 43800-44100. There is an immediate resistance at 44500-44700 levels.

Technical Call Updates

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