Daily Equity Report

Outlook of Nifty & Bank Nifty Today

Nifty Outlook:-

Nifty indices pared its losses but continued to be in the red, dragged down by Tech Mahindra, Adani Ports and ICICI Bank. Investors remained cautious after digesting Fed rate hike cautiously await European Central Bank policy rate decision due later in the day. Wholesale inflation spiked to 4.43 per cent in May, from 3.18% in April, according to the government data released on Thursday.

Nifty Future Support-Resistance
R1/R2	10880/10950
S1/S2	10750/10690

Daily Chart:

Bank Nifty Outlook:-

Bank Nifty ended volatile session in the red zone on the weekly expiry at 26580. US Federal Reserve raised interest rates and took a more hawkish tone in forecasting a slightly faster pace of tightening for the rest of the year.  

Bank Nifty Future Support-Resistance
R1/R2	26800/27060
S1/S2	26420/26080

Bank Nifty Future Support-Resistance

Daily Chart:

Technical Outlook

Top Gainers
LUPIN	903
SUNPHARMA	559.65
HCLTECH	936
CIPLA	589.8

Top Losers
TECHM	698.4
ADANIPORTS	374.6
TCS	1,784.95
IBULHSGFIN	1,184.20

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Daily Equity Report

Outlook of Nifty & Bank Nifty Today

Nifty Outlook:-

Nifty began the day on a higher note as advanced its gains to over 10,750 mark. But bulls could not get the momentum going further and the bears soon took over in the afternoon. Indices turned red in the afternoon trade before a battle between bears and bulls ensured that the indices ended flat.

Nifty Future Support-Resistance
R1/R2	10800/10950
S1/S2	10640/10500

Daily Chart:

Bank Nifty Outlook:-

Bank Nifty trades higher for the second consecutive day and ends the day with Doji candle on daily charts. ICICI Bank stole the limelight as the stock gained over 8 percent intraday and closed 7 percent higher. The bank, as such, reported 50 percent drop in its net profit for the March quarter.

Bank Nifty Future Support-Resistance
R1/R2	26300/27000
S1/S2	25500/25000

Daily Chart:

Technical Outlook

Top Gainers
ICICIBANK	308.5
HINDPETRO	305.55
EICHERMOT	30,400.00
BPCL	393

Top Losers
M&M	865.25
LT	1,364.90
INFY	1,167.50
ZEEL	592.8

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