Outlook Of Nifty/bank nifty today

Nifty Outlook:

After closing flat for 2016, 2017 started with a bang with Nifty and Sensex hitting fresh 52 week highs in April. Since then it has been a one-way rally on D-Street amid a brief period of consolidation. Both global as well as domestic factors contributed to the euphoria on D-Street. Indian markets might be trading at a valuation, which most analysts’ would not call ‘cheap’ but the long term story still remains intact and investors should look at buying quality stocks on dips.

Bank Nifty Outlook:

Massive correction is waiting by… stock price could be half within one or two week of correction… so exit on every opportunity….. Kotak flags disconnect between slow growth & market rally; bullish on HDFC Bank, M&M We might see positive opening but correction could come in second half session… there is big negative build up coming due to global uncertainty so be cautious and keep booking profit … this correction could lead into the may session also… so be watchful..

Nifty Trends

R1 9410
R2 9475
S1 9320
S2 9280

Technical Outlook:

Top Gainers

M&M 1,355.00
ITC 291.10
HDFC 1,576.15

Top Losers

TECHM 425.45
HCLTECH 801.00
INFY 914.15