Outlook Of Nifty/bank nifty today

Nifty:

Nifty Outlook

Index prices sustain on support of 8170 and managed well to pull themselves to high of 8243. We are positive on nifty to take some up side. Where on other hand eyes will be on federal reserve meeting which begin tonight.

Globe on business documents with deep shadow.

Bank Nifty:

Bank Nifty Outlook

Bank Nifty took a long consolidation for the day but at last breakout was seen in bank index price with a sharp pull of around 120 points. Which made the day for buyers. The intraday supports for the Nifty Bank index are placed around 18251 and 18120 whereas resistances are seen around 18525 and 18725. In short term, the Nifty Bank index can thus continue to trade in a broad range and within this rangebound activity, traders can focus more on stock-specific trading with proper risk management.

Nifty Trends

R1 8240
R2 8360
S1 8105
S2 8035
Technical Outlook:

Nifty Day Performance

Open 8,189.95
High 8,243.85
Low 8,172.30
Close 8227.45

Top Gainers

TECHM 487.00
TATAMOTORS 470.30
BPCL 629.40
WIPRO 464.00

Top Losers

ULTRACEMCO 3364.90
HINDALCO 177.25
ZEEL 441.55
BHEL 125.35