Wednesday 4 April 2018

Daily Nifty News Letter

Outlook Of Nifty/bank nifty today


Nifty:  

Nifty Outlook

Nifty finally closes above the neckline (10,230 levels) of the Inverse Head and Shoulder pattern on the smaller time frame chart and has closed above the same. This confirms that the short term trend has probably reversed. However, multiple resistance awaits going forward, Declining Channel falling trendline at 10,275 and 100-DMA of 10,350 are major hurdles in near term for Nifty.



Bank Nifty:  

Bank Nifty Outlook

After trading the day largely rangebound Bank Nifty intense buying in the last hour pushed up despite weakness in global peers, with gains in lenders such as State Bank of India, ICICI Bank and Axis Bank. Bank Nifty able to close above 24530 which indicates buying in coming session.

Nifty Trends
   R1
10350
R2
10500
S1
10200
S2
10100



Technical Outlook


Top Gainers
IBULHSGFIN
1,301.00
ICICIBANK
270.2
M&M
770
BAJAJFINSV
5,414.00

Top Losers
TECHM
615.95
WIPRO
284.25
HINDALCO
207.85
TITAN
929.25

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