Daily Equity Report

Outlook of Nifty & Bank Nifty Today

Nifty Outlook:-

A good recovery in the last hour of trade helped nifty cut big losses and end August series on a slightly better note. However, the Nifty managed to close below 11,700-mark. For the series, Nifty gained around 5 percent, while the Midcap index ended higher by 7 percent.

Nifty Future Support-Resistance
R1/R2	11750/11800
S1/S2	11600/11500

Daily Chart:

Bank Nifty Outlook:-

Bank Nifty relatively outperformed ending 0.28% lower at 28,204. PSU Bank stocks posted strong gains which helped Bank Nifty stem the losses. 

Bank Nifty Future Support-Resistance
R1/R2	28410/28550
S1/S2	27820/27400

Daily Chart:

Technical Outlook

Top Gainers
SUNPHARMA	641.8
GAIL	375
TATASTEEL	608.3
NTPC	169.5

Top Losers
EICHERMOT	27,615.00
BAJFINANCE	2,928.00
HINDPETRO	253.1
INDUSINDBK	1,873.10

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