Thursday 24 May 2018

Daily Equity Report


Outlook of Nifty & Bank Nifty Today



Nifty Outlook:-
Nifty traded sideways for the major part of the day before witnessing a heavy selling pressure in the final hour of trade with Nifty breaching its crucial support level of 10,500 pulled down by oil companies, while mining and energy conglomerate Vedanta Ltd hit an over 10-month low as protests against its copper plant in south India turned violent.


Nifty Future Support-Resistance
R1/R2
10580/10700
S1/S2
10400/10250


Daily Chart:





Bank Nifty Outlook:-
Bank Nifty also ends in red zone as well as nearby its support mark i.e. on 25520. Only Nifty PSU Bank Index managed to end in the green due to strong gains in SBI. For now selling pressure may continue if able to give breakouts of its support mark and sustain below it.

Bank Nifty Future Support-Resistance
R1/R2
25850/26070
S1/S2
25520/25400












Daily Chart:


Technical Outlook

Top Gainers
SBIN
263.45
TECHM
701
CIPLA
534
UPL
690.9









Top Losers
TATAMOTORS
310.7
SBIN
246.55
COALINDIA
264
IBULHSGFIN
1,199.75



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