Daily Equity Report

Outlook of Nifty & Bank Nifty Today

Nifty Outlook:-

Nifty opened the day lower and continued to face selling pressure throughout the session. Trade war concerns between US and China resurfaced after reports said President Donald Trump's administration is considering raising the proposed tariff on $200bn worth of Chinese imports to 25% from the 10% announced last month.

Nifty Future Support-Resistance

R1/R2

11350/11400

S1/S2

11225/1115

Daily Chart

Bank Nifty Outlook:-

Bank Nifty ended the day on a weak note on weakly expiry following weak global cues as well as profit booking in the market. Bank nifty covered gap which we saw on 27 July and closed around it, selling pressure may continue if able to sustain below 27400 mark. 

Bank Nifty Future Support-Resistance
R1/R2	27550/27880
S1/S2	27200/26900

Daily Chart

Technical Outlook

Top Gainers
LUPIN	866.5
DRREDDY	2,227.00
POWERGRID	188.35
HINDPETRO	292.45

Top Losers
KOTAKBANK	1,278.50
BHARTIARTL	372.45
GRASIM	1,005.60
MARUTI	9,129.40

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