Monday Outlook Of Nifty/Bank Nifty

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.

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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
   R18600
R28680
S18500
S28451

 

Technical Outlook:

Nifty Day Performance
   Open8519.65
High8548.95
Low8489.80
Close8,541.20

 

Top Gainers
TATAMTRDVR331
TATA MOTORS506
Power Grid167
ZEEL464

 

Top Losers
ACC1675
BAJAJ AUTO2720
SBIN223
BOSE LTD24300

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