Outlook Of Nifty/bank nifty today

Nifty:

Nifty Outlook:

Late recovery helped the NSE Nifty close moderately higher on Friday despite uncertainty over UK elections results that indicated a possibility of hung parliament. However, the BSE Sensex failed to continue its four weeks gains as investors preferred a bit of profit booking. The 30-share BSE Sensex was up 48.70 points at 31,262.06 and the 50-share NSE Nifty gained 21 points at 9,668.25, backed by HDFC Group and auto stocks. However, the selling in technology stocks and ITC capped gains.

Bank Nifty:

Bank Nifty Outlook:

Nifty Bank ended at fresh record closing high again, up 0.66 percent due to HDFC Bank (up 1.3 percent) and ICICI Bank (up 0.75 percent).

HDFC extended gains, up 0.66 percent despite a media report suggested that merger of HDFC Standard Life Insurance and Max Life failed to get approval from insurance regulator. Max Financial, the promoter of Max Life, lost 3.4 percent.

Nifty Trends

R1 9680
R2 9740
S1 9600
S2 9560
Technical Outlook:

Nifty Day Performance

Open 9,668.85
High 9,693.85
Low 9,619.95
Close 9682.90

Top Gainers

VEDL 244.25
MARUTI 7,474.90
HINDALCO 202.80
TATASTEEL 507.00

Top Losers

TECHM 387.50
GAIL 381.00
ITC 305.70
WIPRO 537.00