Wednesday 16 May 2018

Daily Equity Report


Outlook of Nifty & Bank Nifty Today



Nifty Outlook:-
Nifty ended flat after the BJP is likely to fail to reach half-way mark in Karnataka, though it is likely to be emerging as the largest party with 104 seats. Nifty formed a Doji pattern on the daily chart giving early signs of a reversal. The 10785 levels which acted as a resistance previously will now act as the first support level while on higher side 10950 seen as immediate resistance.

Nifty Future Support-Resistance
R1/R2
10950/11190
S1/S2
10785/10640







Daily Chart:




Bank Nifty Outlook:-
Bank Nifty on the other hand created a Doji pattern which is again indicating uncertainty. Going forward, 26250 is the crucial support for the index. 27,000 mark seen important resistance for now, if able to give breakouts and sustain above it than only buying momentum could be seen again.

Bank Nifty Future Support-Resistance
R1/R2
27000/27650
S1/S2
26300/25900













Daily Chart:


Technical Outlook

Top Gainers
TATASTEEL
627
POWERGRID
214
BAJFINANCE
1,900.00
TCS
3,487.00









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



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