Daily Nifty/Bank Nifty News Letter

Nifty:

Nifty Outlook

Nifty traded flat today. Opening was just two points above the previous close at 8229. For the day closing was marked at 8197. A tension can be seen on chart where prices are trading in a tight range of 8230 to 8180. We are positive on nifty, but an impact can be seen from global market after the release of monitory policy and unemployment rate late tomorrow

nifty-future-update

Bank Nifty:

Bank Nifty Outlook

Bank nifty took a long consolidation today. Prices formed a channel between 18450 and 18400, whole day bank nifty struggled to break this range but was unable to sustain, out from this range. For the day axis bank was the main gainer in the banking sector. A big move is expected in banking index tomorrow and we are positive for index prices

Nifty Trends

R1 8240
R2 8360
S1 8105
S2 8035
Technical Outlook:

Nifty Day Performance

Open 8,229.00
High 8,229.00
Low 8,172.00
Close 8197.65

Top Gainers

AXISBANK 466.55
HCLTECH 822.00
RELIANCE 1056.35
TATAPOWER 78.70

Top Losers

COALINDIA 292.40
BOSCHLTD 20345.00
AUROPHARMA 701.00
EICHERMOT 21790.00