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Market Review:

Indian Markets ended with modest gains, extending their winning streak to a sixth straight session. The Nifty, which climbed to an intraday high of 26,104.20, later pared gains to close above the 25,890 mark, supported by a rally in IT stocks. The S&P BSE Sensex advanced 130.06 points or 0.15% to 84,556.40. The Nifty 50 index rose 22.80 points or 0.09% to 25,891.40.

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 Resistance at 26040. If Nifty closes above that, further upside can be expected towards 26100-26190 mark. On the flip side 25800-25710 will act as strong support levels.

Action: Nifty has an immediate Resistance at 26040 and on a decisive close above expect a rise to 26100-26190 levels.

Bank Nifty

Bank Nifty’s next immediate resistance is around 58450 levels on the upside and on a decisive close above expect a rise to 58600-58840. There is an immediate support at 57860-57620 levels.

Technical Call Updates

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