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Market Review:

Indian markets indices soared on Monday, extending their gains from the previous session. The Nifty 50 index surpassed the 24,200 mark, driven by strong performance across sectors, particularly PSU banks, energy, and realty. The S&P BSE Sensex soared 992.74 points or 1.25% to 80,109.85. The Nifty 50 index jumped 314.65 points or 1.32% to 24,221.90.

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 24270. If nifty closes above that, further upside can be expected towards 24340-24400 mark. On the flip side 24140-24070 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 24270 and on a decisive close above expect a rise to 24340-24400 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 52400 levels on the upside and on a decisive close above expect a rise to 52640-52800 There is an immediate support at 51840-51570 levels.

Technical Call Updates

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