Daily Equity Report

Outlook of Nifty & Bank Nifty Today

Nifty Outlook:-

Nifty50 which started off on a muted note tracking muted global cues recouped most of its losses and bounced back from its 5-days exponential moving average placed at 10,899 to form a bullish candle for the fifth consecutive day in a row. The Nifty formed a bullish candle on an intraday basis as the closing level was higher than the opening level.

Nifty Future Support-Resistance

R1/R2

11110/11150

S1/S2

10850/10750

Daily Chart:

Bank Nifty Outlook:-

The Indian equity markets witnessed a strong recovery despite opening gap down today. Bank Nifty too witnessed a strong recovery and ended the weekly expiry just 17 points lower at 27340.50 after hitting an intraday low of 27155.

Bank Nifty Future Support-Resistance
R1/R2	27425/27700
S1/S2	27150/26900

Daily Chart:

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