Outlook Of Nifty/bank nifty today

Nifty:  

Nifty Outlook

Nifty gave a long red candle for the course of the day. Now we can see in weekly chart, nifty index on major resistance at 8900. For the course of week it was a good up side for index pricing. Prices moved almost 200 points positive and week closed @ 8866, since we get a major resistance at level 8900 and we can except  profit booking in index in a coming days up to the level @ 8750.

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 Bank Nifty:  

Bank Nifty performed well for the day and gave a doji candle on daily chart which closed at 20349. Now on daily frame we can see  an overbought levels on chart. Talking for the weekly frame banking index on major resistance level  at 20700 and we closed at 20349. Bank Nifty gave a positive move of around 600 points in this week and now we can except a profit booking in index.

 

Nifty Trends
   R1 8900
R2 8960
S1 8850
S2 8780

Technical Outlook:

Nifty Day Performance
   Open 8,962.00
High 8,962.00
Low 8,890.50
Close 8903.75

 

Top Gainers
ONGC 255.00
GAIL 394.95
TCS 2352.00
WIPRO 480.00

 

Top Losers
HINDALCO 155.20
YESBANK 1275.50
ULTRACEMCO 3975.00
AXISBANK 613.55

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