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Market Review:

Indian markets ended a volatile session on a positive note on Monday, rising for the second day in a row. Key sectors driving the rally included realty, consumer durables and healthcare. The S&P BSE Sensex advanced 445.29 points or 0.56% to 80,248.08. The Nifty 50 index gained 144.95 points or 0.60% to 24,276.05.

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 24200. If nifty closes below that, further downside can be expected towards 24140-24070 mark. On the flip side 24340-24400 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 24200 and on a decisive close below expect a fall to 24140-24070 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 52140 levels on the downside and on a decisive close below expect a fall to 51870-51600 There is an immediate resistance at 52640-52900 level.

Technical Call Updates

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