Thursday 19 April 2018

Daily Nifty News Letter

Outlook Of Nifty/bank nifty today


Nifty:  

Nifty Outlook

Nifty ended in red snapping 9 session of gains  after RBI circular as well as investors remained cautious on quarterly results, dragged mainly by banking and financial stocks. Nifty Future however to managed to closed at 10550 mark. After giving breakouts of its head and shoulder pattern nifty is resting around its very next important resistance i.e. of 10640-10650 breakouts of which can be seen in coming sessions.




Bank Nifty:  

Bank Nifty Outlook

Bank Nifty opened in positive zone but could not able to sustain on higher side and fell sharply from its 100 daily moving average and closed below its sloping trend line which can be seen in intraday charts ahead of weekly expiry which is due tomorrow. Nifty PSU Bank fell more than 1 percent on fall in almost all stocks. Bank of Baroda, Indian Bank, Andhra Bank, OBC, Syndicate Bank, Union Bank, IDBI Bank and SBI declined up to 4 percent. 25500 seen as a resistance while 24900 will act as a support.

Nifty Trends
   R1
10650
R2
10730
S1
10500
S2
10430


Technical Outlook

Top Gainers
ITC
276.5
WIPRO
293
ULTRACEMCO
4,007.00
ZEEL
588.25


Top Losers
HINDPETRO
320.05
AXISBANK
517.7
TITAN
977.80
LUPIN
790.95

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