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Market Review:

Indian markets ended lower on Monday amid negative global cues. However, buying in PSU banks, auto and power restricted the losses. The S&P BSE Sensex declined 241.79 points or 0.36% to 67,596.84. The Nifty 50 index lost 59.05 points or 0.29% to 20,133.30

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 20080. Any move below the same may extend the fall toward 20020-19950 mark. On the flip side 20180-20230 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 20080 and on a decisive close below expect a fall to 20020-19950 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 45500 levels on the downside and on a decisive close below expect a fall to 45200-45000. There is an immediate resistance at 46260-46440 levels.

Technical Call Updates

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