Daily Nifty/Bank Nifty News Letter

Nifty:

Nifty Outlook

Index took a sharp fall on chart even after taking a gap down opening at 8250. Where the low hits at 8164 for the initial hours we saw a consolidation, prices ranging between 8230 to 8210, but once when the support of 8210 was broken prices fall sharply and cant take any upside further, an impact of Eid was also seen as low volume & Commodity exchange was also off, which will start at 5 Pm.

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Bank Nifty:

Bank Nifty Outlook

Bank Nifty fail to continue the uptrend and was not able to sustain even on support level of 18590. Prices closed red at 18422 down by 227 points. This make the 18730 as a major resistance and a strong resistance to break. First half of the market hours prices were just crawling and taking support at 18520 but a down side was seen in the last hours. For coming days we feel the same pressure on the index which can pull the price to 18300.

Nifty Trends

R1 8240
R2 8360
S1 8105
S2 8035
Technical Outlook:

Nifty Day Performance

Open 8,250.00
High 8,250.90
Low 8,164.05
Close 8183.40

Top Gainers

ONGC 312.00
NTPC 165.50
TCS 2210.00
SUNPHARMA 676.55

Top Losers

AMBUJACEM 208.40
BPCL 612.20
EICHERMOT 22090.80
ASIANPAINT 911.00