Outlook Of Nifty/bank nifty today

Nifty:  

Nifty Outlook

Nifty made a big red candle for the day. A big dent in the prices was seen from 8717 from where nifty opened and fall at 8590 a down side of 127 points was marked on chart. Market exactly sustained at yesterday’s  given support of 8590. We can feel the storm of this fall and seems like the index can fall 8520 for the initial handle. Where for high side we need 8750 price to get a break out.

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Bank Nifty:  

Falling from the year high bank nifty gave a big red candle for the day where it opened at 19020 and closed 18696 down by 324 points. We believe this down fall can be continued till 18600 & 18250 where the major downfall was seen in the beginning of the market hours and later the prices were just heated up and were moving in a consolidation range by making a new bottom.  On up side we need strong buy to break 18950 handle.

Nifty Trends
   R1 8660
R2 8740
S1 8550
S2 8480

 

Technical Outlook:

Nifty Day Performance
   Open 8,686.70
High 8,690.10
Low 8564.60
Close 8,575.35

 

Top Gainers
ADANIPORT 257.60
BANKBARODA 160.05
TCS 2676.00
HCLTECH 817.95

 

Top Losers
GRASIM 4809.00
ACC 1612.00
IDEA 93.00
AMBUJACEM 259.50

 

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