Outlook Of Nifty/bank nifty today
Nifty breaking the major support of 7900 today, closed red at 7911. Where the first hour saw a major down side of the day supported by a good volume participation. Making a rounding top on chart heat is still On the selling side, making 7870 and 7700 as a major level for prices to rest. Still the resistance comes on 8000 to 8050 bracket. For the day Parma was main sector to look the down side by 5 to 3 percent.
Bank Nifty Outlook
Prices took a gap down opening today at 17825 which continued for first hour with a huge selling pressure. But after the first hour there was a long consolidation which ended the day at 17673. Looking on the current condition it feels difficult for prices to take any upside as expiry of Dec contract is approaching on this Thursday. Banknifty can breach for the 17500 levels and 17350 in coming days. Where 17930 is acting as a major resistance.
Nifty Day Performance