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Market Review:

Indian benchmark closed with strong gains on Wednesday, tracking firm global cues. The Nifty 50 ended above 24,950, lifted by IT and PSU bank stocks. US President Donald Trump said his administration was in talks with India to resolve trade barriers and planned to speak with Prime Minister Narendra Modi. The S&P BSE Sensex added 323.83 points or 0.40% to 81,425.15. The Nifty 50 index rose 104.50 points or 0.42% to 24,973.10.

Nifty Technical Outlook

Nifty is expected to open on a flattish note and likely to witness range bound move during the day. On technical grounds, Nifty has an immediate Resistance at 25040. If Nifty closes above that, further upside can be expected towards 25100-25170 mark. On the flip side 24900-24840 will act as strong support levels.

Action: Nifty has an immediate Resistance at 25040 and on a decisive close above expect a rise to 25100-25170 levels.

Bank Nifty

Bank Nifty’s next immediate resistance is around 55040 levels on the upside and on a decisive close above expect a rise to 55270-55500. There is an immediate support at 54540-54300 levels.

Technical Call Updates

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