Sensex, Nifty trade flat; auto, metal stocks under pressure

Indian indices started the day on flat note with Nifty trading below 10,850 level.

The Sensex is down 2.76 points at 36105.71, while Nifty is down 2.10 points at 10829.40. About 374 shares have advanced, 306 shares declined, and 29 shares are unchanged.

Bharti Airtel, Bharti Infratel, Vodafone Idea, Hero Motocorp, ITC, Zee Entertainment, Asian Paints are the major gainers, while United Spirits, Pidilite, Interglobe are among major losers.

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Daily Equity Report

Outlook of Nifty & Bank Nifty Today

Nifty Future Support-Resistance
R1/R2	10800/11050
S1/S2	10600/10450

Nifty Outlook:-

Nifty continued on their positive trend with buying pressure witnessed across sectors in the afternoon session. Nifty ended the day 80 points above at 10763.40 with broad-based buying pressure witnessed across all sectorial indices except Nifty finance service and PSU Banks.

Daily Chart

Bank Nifty Outlook:-

Bank Nifty ended on a positive note while being highly volatile by the end of the day. Yes Bank was the top performer and closed 7.23% higher. Investors are cautious ahead of the outcome of the RBI board meeting. The meeting had commenced at 10:30 am on Monday and the outcome is expected sometime in the evening.

Bank Nifty Future Support-Resistance

R1/R2

26750/27000

S1/S2

26100/25800

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Daily Equity Report

Outlook of Nifty & Bank Nifty Today

Nifty Outlook:-

A sharp selloff in the last hour erased all the gains, with the market closing at low points of the day. The Nifty managed to give up 11,650. While FMCG were one of the big laggards through the day, weakness among banks, along with IT, pharmaceuticals, energy, and infrastructure sectors also weighed on the indices.

Nifty Future Support-Resistance
R1/R2	11800/11900
S1/S2	11600/11500

Daily Chart:

Bank Nifty Outlook:-

Bank Nifty ended lower on Monday after India's manufacturing growth eased in August on softer domestic demand and on concerns over the escalation of the global trade war.

Bank Nifty Future Support-Resistance
R1/R2	28410/28550
S1/S2	27820/27450

Daily Chart:

Technical Outlook

Top Gainers
DRREDDY	2,588.00
WIPRO	309.15
EICHERMOT	28,715.00
TITAN	911.5

Top Losers
BAJFINANCE	2,720.10
HINDUNILVR	1,699.80
POWERGRID	194.2
AXISBANK	630.7

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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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Daily Equity Report

Outlook of Nifty & Bank Nifty Today

Nifty Outlook:-

Nifty traded in a tight range right through the day after opening gap up at lifetime highs of 11,620. IT and Pharma stocks were the star performers in today’s trade with Nifty IT and Nifty Pharma Index closing 1.29% and 1.11% higher, respectively.

Nifty Future Support-Resistance

R1/R2

11650/11700

S1/S2

11550/11500

Daily Chart:

Bank Nifty Outlook:-

Bank Nifty, however, witnessed selling pressure ending the weekly expiry at 0.81% lower at 28,027. Bank Nifty ends with bearish candle for the second time in a row as well as selling pressure may continue in Index.

Bank Nifty Future Support-Resistance
R1/R2	28400/28500
S1/S2	28000/27820

Daily Chart:

Technical Outlook

Top Gainers
TECHM	728.9
DRREDDY	2,467.90
NTPC	164.5
HCLTECH	1,026.00

Top Losers
TATAMOTORS	256.55
BPCL	358.5
IOC	153.65
HINDPETRO	260.1

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