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Market Review:

Indian markets saw a measured rise, closing the day with the Nifty50 above 24,100. IT and financial services led the charge. Investors are looking ahead to US jobs data and the Fed Chair's speech for further clues on interest rates.The S&P BSE Sensex was up 443.46 points or 0.56% to 79,476.19. The Nifty 50 index added 131.35 points or 0.55% to 24,141.95.

Nifty Technical Outlook

Nifty is expected to open on a positive note and likely to witness range bound move during the day. On technical grounds, Nifty has an immediate resistance at 24200. If nifty closes above that, further upside can be expected towards 24270-24340 mark. On the flip side 24040-23970 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 242

Bank Nifty

Bank Nifty faces an immediate resistance around 52900 levels on the upside and on a decisive close above expect a rise to 53240-53500 There is an immediate support at 52400-52100 levels.

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