Daily Nifty News Letter

Outlook Of Nifty/bank nifty today Nifty Outlook:   The S&P BSE Sensex rallied over 200 points in morning trade to hit a fresh record high of 30,197.66 after media reports suggested that India could be looking at higher monsoon rains than forecast. Monsoon remains a key risk for Indian market because it delivers about 70 percent of India's annual rainfall, critical for crops such as rice, cane, corn, cotton and soybeans. Bank Nifty Outlook:   The stock has been an underperformer within the market and the banking space. It has been consolidating in a broader range of Rs480-520 for quite a while. The stock has its major support of Rs498 on downside where its 200-DEMA is also well placed. On the daily charts, the stock has made triple bottom formation around Rs485 levels and bounced sharply from there to once again retain above its 200-DEMA. On the weekly chart, the stock has formed rectangle formation and is on verge of giving breakout above its resistance level of 530. Traders can accumulate the stock in a range of Rs515-520 for the upside target of Rs575 with the stop loss below Rs480. Nifty Trends    R1 9470 R2 9535 S1 9370 S2 9280 Technical Outlook Top Gainers BHARTIARTL 372.80 ZEEL 520.10 HINDUNILVR 995.00 AUROPHARMA 619.00 HDFC 1,570.70 Top Losers WIPRO 499.80 TATAPOWER 81.70 ULTRACEMCO 4,365.45 ASIANPAINT 1,150.00 HCLTECH 841.10 To Get Free Trial Missed call @8817002233  Mail Us - starindiamarket@gmail.com visit - http://www.starindiaresearch.com/freetrail.php