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Market Review:

Indian market indices saw minor gains on Monday. The Nifty closed just above 22,500, with pharma and healthcare sectors showing strong performance. The S&P BSE Sensex advanced 341.04 points or 0.46% to 74,169.95. The Nifty 50 index added 111.55 points or 0.50% to 22,508.75.

Nifty Technical Outlook

Nifty is expected to open on a gap up note and likely to witness positive move during the day. On technical grounds, Nifty has an immediate resistance at 22640. If nifty closes above that, further upside can be expected towards 22700-22770 mark. On the flip side 22440-22370 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 22640 and on a decisive close above expect a rise to 22700-22770 levels

Bank Nifty

Bank Nifty faces an immediate resistance around 48740 levels on the upside and on a decisive close above expect a rise to 49000- 49240.There is an immediate support at 48270-48000 levels.

Technical Call Updates

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