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Market Review:

Indian markets the domestic equity benchmarks failed to sustain their early gains and ended the day with minor losses, putting an end to a seven-day winning streak. IT and pharma sector shares bucked the broader market selloff. The S&P BSE Sensex added 94.05 points or 0.14% to 67,221.13. The Nifty 50 index shed 3.15 points or 0.02% to 19,993.20.

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 19900. Any move below the same may extend the fall toward 19800-19700 mark. On the flip side 20100-20200 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 19900 and on a decisive close below expect a fall to 19800-19700 levels.

Bank Nifty 

Bank Nifty immediate support is around 45400 levels on the downside and on a decisive close below expect a fall to 45240-45100. There is an immediate resistance at 45800-46000 levels.

Technical Call Updates

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