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Market Review:

Indian market ended with modest gains on Thursday. Banking and metal shares saw increased demand, while media, healthcare , and IT stocks faced selling pressure. The S&P BSE Sensex up 195.42 points or 0.27% to 72,500.30. The Nifty 50 index added 31.65 points or 0.14% to 21,982.80. Nifty Technical Outlook Nifty is expected to open on a positive note and likely to witness sideways move during the day. On technical grounds, Nifty has an immediate resistance at 22040. If nifty closes above that, further upside can be expected towards 22100-22240 mark. On the flip side 21900-21830 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 22040 and on a decisive close above expect a rise to 22100-22240 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 46440 levels on the upside and on a decisive close above expect a rise to 46800-47200 There is an immediate support at 45670-45260 levels.

Technical Call Updates

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