Outlook Of Nifty/bank nifty today

Nifty Outlook:

Equity benchmarks fell sharply on Friday, with the Nifty closing tad below psychological 9,200-mark amid geopolitical tensions after the US military launched cruise missiles against a Syrian airfield. However, the market recouped losses in noon trade on clearance to important GST bills in Rajya Sabha but failed to sustain that for long and fell 259 points intraday on the Sensex. The 30-share BSE Sensex slipped 220.73 points to 29,706.61 and the 50-share NSE Nifty dropped 63.65 points to 9,198.30, weighed by pharma, energy and FMCG stocks.

Bank Nifty Outlook:

Markets across the globe came under pressure after the US military launched cruise missile strikes against a Syrian airbase controlled by President Bashar al-Assad’s forces in response to a chemical attack in a rebel-held area. Asian equities ended mixed but European markets like France’s CAC and Germany’s DAX were lower by 0.1-0.5 percent at the time writing this article. However, gold and bonds, which considered safe haven assets, gained strength. Gold hit five-month high while crude oil prices also climbed to one-month high.

Nifty Trends
R1 9300
R2 9380
S1 9220
S2 9170

Technical Outlook:

Top Gainers
BPCL 675.80
IOC 397.40
INFRATEL 347.95
TCS 2432.00
BHARTIRTL 344.85

Top Losers
BHANKBARODA 168.50
SUNPHARMA 667.00
LUPIN 1408.25
ADANIPORTS 348.05
KOTAKBANK 873.00