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Market Review:

Indian markets ended with major gains on Wednesday as trading resumed on domestic bourses after the Diwali break. The S&P BSE Sensex jumped 742.06 points or 1.14% to 65,675.93. The Nifty 50 index surged 231.90 points or 1.19% to 19,675.45.

Nifty Technical Outlook

Nifty is expected to open positive note and profit booking may be seen at higher levels during the day. On technical grounds, Nifty has an immediate support at 19640. On Technical grounds, Nifty has an immediate support at 19500-19440 mark. On the flip side 19740- 19840 will act as strong resistance levels. It’s a stock specific market trade calls with strict stop loss.

Action: Nifty has an immediate support placed at 19640 and on a decisive close below expect a fall to 19500-19440 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 44300 levels on the downside and on a decisive close below expect a fall to 44200-44100. There is an immediate resistance at 44460-44540 levels.

Technical Call Updates

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