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Market Review:

Indian markets ended a volatile session with decent gains on Thursday, rising for the eleventh session in a row. Oil & gas, FMCG and auto shares advanced, while pharma, metal and media shares declined. The S&P BSE Sensex jumped 349.05 points or 0.43% to 82,134.61. The Nifty 50 index added 99.60 points or 0.40% to 25,151.95.

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 25240. If nifty closes above that, further upside can be expected towards 25330-25400 mark. On the flip side 25070-25000 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 25240 and on a decisive close above expect a rise to 25330-25400 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 51670 levels on the upside and on a decisive close above expect a rise to 52000-52340 There is an immediate support at 51300-51000 levels.

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