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Market Review:

Indian market benchmarks surged on Tuesday. All NSE sectoral indices closed in the green, with consumer durables, media, and realty sectors leading gains. The S&P BSE Sensex climbed 1,131.31 points or 1.53% to 75,301.26. The Nifty 50 index surged 325.55 points or 1.45% to 22,834.30.

Nifty Technical Outlook

Nifty is expected to open on a positive note and likely to witness positive move during the day. On technical grounds, Nifty has an immediate resistance at 22900. If nifty closes above that, further upside can be expected towards 23000-23070 mark. On the flip side 22670-22600 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 22900 and on a decisive close above expect a rise to 23000-23070 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 49700 levels on the upside and on a decisive close above expect a rise to 50000- 50270.There is an immediate support at 49200-49000 levels.

Technical Call Updates

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