Outlook Of Nifty/bank nifty today

Nifty:

Nifty Outlook

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.

stock-market-bull

Bank Nifty:

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 Trends

R1 8040
R2 8160
S1 7900
S2 7820
Technical Outlook:

Nifty Day Performance

Open 7,970.00
High 7,970.00
Low 7,896.35
Close 7911.30

Top Gainers

HINDUNILVR 804.00
LT 1344.00
TCS 2296.85
ITC 225.40

Top Losers

HINDALCO 151.30
CIPLA 555.30
AUROPHARMA 623.25
BANKBARODA 147.75