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Market Review:

Indian market ended near the flatline amid volatility on Thursday. The Sensex witnessed slight downturn to close above 78,400 mark while the Nifty managed to settle near the 23,750 mark. The S&P BSE Sensex was down 0.39 points or 0% to 78,472.48. The Nifty 50 index rose 22.55 points or 0.10% to 23,750.20.

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 23800. If nifty closes above that, further upside can be expected towards 23870-23940 mark. On the flip side 23670-23600 will act as strong support levels. It’s a stock specific market trade calls with strict stop loss.

Action:

Nifty has an immediate resistance placed at 23800 and on a decisive close above expect a rise to 23870-23940 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 51770 levels on the upside and on a decisive close above expect a rise to 52000-52240 There is an immediate support at 51240-51000 levels.

Technical Call Updates

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