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Market Review:

Indian market ended with moderate gains on Monday, snapping a fiveday declining streak. Regional markets were uplifted by softer U.S. inflation data. Realty, banking and FMCG shares advanced while media, auto and healthcare shares declined.The Nifty settled above the 23,750 mark. The BSE Sensex, rallied 498.58 points or 0.64% to 78,540.17. The Nifty 50 index added 165.95 points or 0.70% to 23,753.45.

Nifty Technical Outlook

Nifty is expected to open on a flattish note and likely to witness range bound move during the day. On technical grounds, Nifty has an immediate support at 23640. If nifty closes below that, further downside can be expected towards 23540-23400 mark. On the flip side 23870-23980 will act as strong resistance levels. It’s a stock specific market trade calls with strict stop loss

Action:

ifty has an immediate support placed at 23640 and on a decisive close below expect a fall to 23540-23400 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 51250 levels on the downside and on a decisive close below expect a fall to 51090-50870 There is an immediate resistance at 51480-51640 level.

Technical Call Updates

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