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Market Review:

Indian market benchmarks closed higher today, buoyed by a late rally in banking and financial services stocks, with the Nifty ending above the 25,500 level. However, gains were capped by weakness in consumer durables, pharma, and healthcare shares. The S&P BSE Sensex added 270.01 points or 0.32% to 83,712.51. The Nifty 50 index rose 61.20 points or 0.24% to 25,522.50.

Nifty Technical Outlook

Nifty is expected to open on a flattish note and likely to witness a range bound move during the day. On technical grounds, Nifty has an immediate support at 25440. If Nifty closes below that, further downside can be expected towards 25370-25300 mark. On the flip side 25570-25640 will act as strong resistance levels.

Action: Nifty has an immediate Support at 25440 and on a decisive close below expect a fall to 25370-25300 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 57200 levels on the downside and on a decisive close below expect a fall to 57000-56240. There is an immediate resistance at 57640-57870 levels.

Technical Call Updates

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