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Market Review:

Indian market benchmarks closed the session with solid gains, marking their third consecutive session in the green. The financial and banking sectors did the heavy lifting, while rotational buying across sectoral giants added fuel to the rally. The S&P BSE Sensex advanced 309.40 points or 0.40% to 77,044.29. The Nifty 50 index added 108.65 points or 0.47% to 23,437.20.

Nifty Technical Outlook

Nifty is expected to open on a gap down and likely to witness sideways move during the day. On technical grounds, Nifty has an immediate support at 23300. If Nifty closes below that, further downside can be expected towards 23240-23170 mark. On the flip side 23500-23570 will act as strong resistance levels.

Action: Nifty has an immediate support placed at 23300 and on a decisive close below expect a fall to 23240-23170 levels.

Bank Nifty

Bank Nifty’s next immediate support is around 52770 levels on the downside and on a decisive close below expect a fall to 52500-52240 There is an immediate resistance at 53340-53600 levels.

Technical Call Updates

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