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MARKET REVIEW

* Equity indices extended losses for a third straight session on Wednesday as global shocks and weak earnings hit risk appetite.

* Selling was broad-based, with IT, chemicals and consumer durables under sharp pressure

* The S&P BSE Sensex dropped 270.84 points or 0.33% to 81,909.63. The Nifty 50 index lost 75 points or 0.30% to 25,157.50.

NIFTY FUT CHART

NIFTY FUT TECHNICAL OUTLOOK 

* Nifty is expected to open on a gap up note and likely to witness a positive move during the day.

* On technical grounds, Nifty has an immediate Resistance at 25360. If Nifty closes above that, further upside can be expected towards 25440-25500 mark.

* On the flip side 25100-25000 will act as strong support levels.

BANK NIFTY FUT CHART

BANK NIFTY FUT TECHNICAL OUTLOOK

* Bank Nifty is expected to open on a gap up note and likely to witness a positive move during the day.

* Bank Nifty’s next immediate resistance is around 59200 levels on the upside and on a decisive close above expect a rise to 59480-59600.

* There is an immediate support at 58600-58300 levels

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