The Nifty50 ended the record week with gains of around 2 percent but it looks like bulls are not going to give up that easy as fresh Put writing at strike
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OutOutlook Of Nifty/bank nifty today
Nifty Outlook:
The Nifty50 ended the record week with gains of around 2 percent but it looks like bulls are not going to give up that easy as fresh Put writing at strike prices 9,100-9,300 adds to bullish sentiment. Fresh Pit writing was seen at strike prices 9000 (0.7 lakh contracts added) which will now act as crucial support for the index, followed by 9,100 which saw fresh additions of 7.07 lakh contracts, 9,200 recorded additions of 4.9 lakh contracts, and 9,300 saw additions of 5.5 lakh contracts.
Bank Nifty Outlook:
IDFC closed at Rs 65.75 on 28th April 2017. It made a 52-week low at Rs44 on 24th June 2016 and a 52-week high of Rs83.40 on 29th September 2016. The 200-days Exponential Moving Average (EMA) of the stock on the daily chart is currently placed at Rs61.59. After a sharp correction from higher levels, it took support near Rs55 levels and last week rebounded sharply with gain of almost 11 percent, which is positive in nature. Therefore, traders can buy the stock in the range of Rs61-63 levels for the upside target of Rs65-67 levels with s stop loss below Rs59.
Nifty Trends
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R1
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9380
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R2
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9475
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S1
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9270
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S2
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9180
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Top Gainers
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IBULHSGFIN
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1,075.05
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HDFC
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1,585.55
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BPCL
|
741.30
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ONGC
|
191.80
|
MARUTI
|
6,690.00
|
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Top Losers
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|
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LUPIN
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1,303.90
|
|
TATAMTRDVR
|
273.05
|
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ACC
|
1,592.00
|
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BHARTIARTL
|
348.00
|
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TATAMOTORS
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450.50
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