Daily Nifty/Bank Nifty News Letter

Outlook Of Nifty/bank nifty today:

Nifty Outlook:

Trading in the green zone throughout the day, the market closed the day at record levels, driven by a rally in index heavyweights Reliance Industries, L&T, among others. The Nifty closed above the 9200-mark for the first time ever, while the Sensex is now just 100 points away from 30,000-mark. The Sensex was up 255.05 points at 29875.55, while the Nifty was up 55.70 points at 9229.45. The market breadth was healthy as 1,951 shares advanced against a decline of 773 shares, while 124 shares were unchanged.

Bank Nifty Outlook:

Yes Bank’s recent fund-raise is credit positive and will help strengthen its capitalisation that will support credit growth, Moody’s Investors Service has said. Yes Bank last week had informed about raising Rs 4,906.65 crore (USD 750 million) in Qualified Institutions Placement (QIP) mode. State Bank of India merged its five Associate Banks “ State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala, State Bank of Travancore, along with Bharatiya Mahila Bank with itself effective April 1, 2017.

Nifty Trends

R1 9280
R2 9340
S1 9185
S2 9100

Technical Outlook:

Top Gainers

LT 1663.50
DRREDDY 2738.80
RELIANCE 1373.25
HDFC 1537.00

Top Losers

WIPRO 507.05
IOC 381.00
BPCL 639.90