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Market Review:

Indian markets ended with moderate gains on Friday. The Nifty settled above the 25,200 level. Realty, pharma and healthcare shares advanced while media and FMCG stocks declined. The barometer index, the S&P BSE Sensex gained 231.16 points or 0.28% to 82,365.77. The Nifty 50 index added 83.95 points or 0.33% to 25,235.90.

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 25430. If nifty closes above that, further upside can be expected towards 25500-25600 mark. On the flip side 25300-25230 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 25430 and on a decisive close above expect a rise to 25500-25600 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 52000 levels on the upside and on a decisive close above expect a rise to 52270-52500 There is an immediate support at 51500-51240 levels.

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