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Market Review:

Indian markets hit new high during a special trading session on Saturday. Sectors like media, metals, and consumer durables saw gains, while banking and financial services stocks struggled. The barometer index, the S&P BSE Sensex up 60.80 points or 0.08% to 73,806.15. The Nifty 50 index added 39.65 points or 0.18% to 22,378.40.

Nifty Technical Outlook Nifty is expected to open on a flattish note and likely to witness sideways move during the day. On technical grounds, Nifty has an immediate resistance at 22440. If nifty closes above that, further upside can be expected towards 22550-22640 mark. On the flip side 22300-22200 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 22440 and on a decisive close above expect a rise to 22550-22640 levels.

Bank Nifty

Bank Nifty faces an immediate resistance around 47800 levels on the upside and on a decisive close above expect a rise to 48000-48270 There is an immediate support at 47440-47200 levels.

Technical Call Updates

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