NIFTY/ BANK NIFTY WEEKLY NEWS LETTER

Nifty Outlook:

Nifty traded on positive numbers today. Despite weak GDP numbers, bulls dominated the sentiments today and index touched 10k. Broader market outperformed, majorly midcap and small-cap counter showed a rally ended with the gain. Overall for the week Nifty added 1% movement. Further for Nifty 10150 acting as major resistance.

Bank Nifty Outlook:

Bank Nifty Index saw a positive rally, with gap up opening for the day, index continued to show positive for the day and also in the week it gained higher. Overall for the week the bull’s were active and touched a level of 24500. PSU bank moved positive as well as the private players for the index. Next 24750 can be seen as major resistance for the index.

Nifty 50 Gainers

Stock Price
DRREDDY 2,212.00
AUROPHARMA 757.30
ASIANPAINT 1,215.00
TATAMOTORS 391.00
BAJAJ-AUTO 2,916.95

Nifty 50 Losers

Stock Price
IOC 448.00
TCS 2,460.60
POWERGRID 216.25
BHARTIARTL 423.00
WIPRO 296.00
Nifty Resistance & Support

R1 / R2 1050/10150
S1 / S2 9850/9750