Monday Outlook Of Nifty/Bank Nifty


Nifty Outlook

Nifty was positive for the day and sustained well above 8515 handle. Moreover today was a range bound day which slowly moved up for the edge of 8560 level for the day we have two rocking stocks, Biocon which gave move of 14.9% and 12% move was made by Bharat Fin. As it was last day of the week and we closed positive at 8554. We expect Nifty to move up for the level of 8650 after breaking 8600. On lower side 8500 is very important for nifty, which should not be broken. Else 8350 price can be seen soon.


Bank Nifty:  

Bank Nifty formed a Doji candle for the day and close @ 18734 where made high of 18776 and bottom was touched at 18580. We can see a down side pressure from last two days and its becoming harder for index  to break 19100 handle for upside where on lower side we can see Bank Nifty approaching for 18450. Buyers are waiting for some good news to get flash from Gov in the monsoon session


Nifty Trends
   R1 8600
R2 8680
S1 8500
S2 8451


Technical Outlook:

Nifty Day Performance
   Open 8519.65
High 8548.95
Low 8489.80
Close 8,541.20


Top Gainers
Power Grid 167
ZEEL 464


Top Losers
ACC 1675
SBIN 223
BOSE LTD 24300

Post Comment