Today Nifty/Bank Nifty Outlook

Nifty Outlook

Nifty ended flat today just like the previous day it opened at 8676 and closed at 8664 where the spike were lower than the previous day high was marked at 8736 and dip @ 8638. The upside which was seen previously on chart seems to get consolidate now a days. As Nifty is trading at the year high. We are expecting a little slow move in index as it need some fresh buy to lift the price up. Initial resist to index price comes @ 8750 where the support falls at 8620 level.

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Bank Nifty Outlook

As foretasted Bank Nifty took some correction today and gave a red candle and even we make some good bugs by sitting on selling side. Bank Nifty opened at 18898.50 and closed lower at 18845 where the bottom was touched at 18755. We believe the prices to get correction till 18640 handle and then some fresh buying would be seen. At part of range of Bank Nifty support falls at 18640 and resistance at 19200.

 

Top GainersPrice
ITC261
MARUTI5000
BANKBARODA151
HCLTECH799
HEROMOTOCO3260
Top LosersPrice
AUROPHARMA763
HDFC1337
TATAMOTORS495
BPCL580
TATAMTRDVR323

 

NIFTY RESISTANCE & SUPPORT
Resistance (R1/R2)8745/8880
Support (S1/S2)8600/8500

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