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Market Review:

Indian markets extended its winning streak for the fourth straight session on April 24 even though the benchmarks trimmed some of the gains in the afternoon, as investors awaited earnings of FMCG giant Hindustan Unilever (HUL), banking major Axis Bank and several other firms.The Sensex ended 114.49 points, or 0.16 percent, higher at 73,852.94, and the Nifty closed 34.40 points, or 0.15 percent, up at 22,413.40.

Nifty Technical Outlook

Nifty is expected to open on a flattish note and likely to remain sideways move during the day. On technical grounds, Nifty has an immediate support at 22340. Any move below the same may extend the fall toward 22250-22170 mark. On the flip side 22500-22580 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 22340 and on a decisive close below expect a fall to 22250-22170 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 48000 levels on the downside and on a decisive close below expect a fall to 47770-47500. There is an immediate resistance at 48500-48700 levels.

Technical Call Updates

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