Wednesday, 2 May 2018

Daily Equity Report


Outlook of Nifty & Bank Nifty Today



Nifty Outlook:-
Nifty made a strong bull candle formation of a strong bullish candle suggests that the momentum is strong and there is a higher possibility now for the index to hit levels closer to 10900. However, owing to relentless strength displayed by the bulls in the last 5 weeks a pause or minor correction can’t be ruled out going forward.


Nifty Future Support-Resistance
R1/R2
10850/10950
S1/S2
10700/10640

Daily Chart:






Bank Nifty Outlook:-
Bank Nifty shows positive momentum for the third consecutive day after RBI further liberalised ECB policy which help strong buying PSU banks. PSU bank Index gains around 2 percent.  For now 25780-25800 seen as an immediate resistance for Bank Nifty while on lower side 25400 will act as a support.

Bank Nifty Future Support-Resistance
R1/R2
25780/26150
S1/S2
25400/25000













Daily Chart:


Technical Outlook

Top Gainers
YESBANK
360.95
TCS
3,529.00
KOTAKBANK
1,212.70
HINDUNILVR
1,502.00








Top Losers
AXISBANK
518.5
RELIANCE
963.5
UPL
732
GAIL
325.55

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