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Market Review:

Indian markets bounced back on Tuesday. Utilities, power, and energy stocks performed well, while capital good , realty, and auto shares struggled. The S&P BSE Sensex added 261.16 points or 0.39% to 66,428.09. The Nifty 50 index added 79.75 points or 0.40% to 19,811.50

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 19770. Any move below the same may extend the fall toward 19700-19640 mark. On the flip side 19840-19900 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 19770 and on a decisive close below expect a fall to 19700-19640 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 44370 levels on the downside and on a decisive close below expect a fall to 44240-44000. There is an immediate resistance at 44660-44830 levels.

Technical Call Updates

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