Daily Equity Report

Outlook of Nifty & Bank Nifty Today

Nifty Outlook:-

The benchmark indices settled at fresh closing high on Thursday, though bears tried intermittently for control. The market has consistently been hitting fresh record highs, backed by select large caps and banks on hopes of a likely improvement in asset quality going forward. Nifty 50 index closed at a new high of 11,484.90, up 17 points.

Nifty Future Support-Resistance

R1/R2

11510/1200

S1/S2

11450/11350

Daily Chart

Bank Nifty Outlook:-

Shares of public sector undertaking (PSU) bank were in focus with the Nifty PSU Bank index gaining around 3% on the NSE in an otherwise range-bound market on. Union Bank of India, Allahabad Bank and Oriental Bank of Commerce were up 5% each, while Andhra Bank, Bank of India, Canara Bank, Bank of Baroda, Syndicate Bank, PNB and SBI were up in the range of 3% to 4% on the NSE.

Bank Nifty Future Support-Resistance
R1/R2	28500/28800
S1/S2	28150/27800

Daily Chart

Technical Outlook

Top Gainers
AXISBANK	621.35
ICICIBANK	332
HINDALCO	228.1
SBIN	317.65

Top Losers
BHARTIARTL	367
TITAN	914.95
ONGC	169
CIPLA	621.05

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Daily Equity Report

Outlook of Nifty & Bank Nifty Today

Nifty Outlook:-

After trading near the day’s high points throughout the session, equity benchmarks lost some sheen in the last hour, with the Nifty giving up 11,400.  Axis Bank, State Bank of India, and ICICI Bank were the top gainers, while Tata Motors, Kotak Mahindra Bank, GAIL and Dr Reddy’s Labs lost the most.

Nifty Future Support-Resistance
R1/R2	11450/11500
S1/S2	11300/11200

Daily Chart

Bank Nifty Outlook:-

Bank Nifty settled at record closing highs on Monday, after rallying for the to a second consecutive session led by rise in financial stocks, especially the public sector banks (PSBs). Banks led the gainers’ chart among all sectoral indices.

Bank Nifty Future Support-Resistance
R1/R2	28020/28120
S1/S2	27820/27400

Daily Chart

Technical Outlook

Top Gainers
AXISBANK	595.9
SBIN	308.9
ICICIBANK	314.5
BHARTIARTL	384.55

Top Losers
GAIL	376.5
KOTAKBANK	1,284.00
TATAMOTORS	253.5
HINDUNILVR	1,730.00

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Daily Equity Report

Outlook of Nifty & Bank Nifty Today

Nifty Outlook:-

After days of rally, D-Street took a breather of sorts, after the Reserve Bank of India (RBI) raised its repo rate by 25 bps to 6.5%. The policy comes amid rising inflation and a falling rupee. The widening current account deficit in an election year is also a key monitor able for the policymakers. The Nifty managed to close just below 11,400-mark.

Nifty Future Support-Resistance

R1/R2

11410/11500

S1/S2

11280/11220

Daily Chart

Bank Nifty Outlook:-

Bank Nifty tanks central bank's Monetary Policy Committee also increased the reverse repo rate by 25 bps to 6.25%, while keeping a neutral stance on policy. It pegged retail inflation at 4.8 per cent for the second half of the current fiscal. It also kept the GDP forecast for the current fiscal unchanged at 7.4 per cent and saw it at 7.5-7.6 per cent in the second half of the current fiscal.

Bank Nifty Future Support-Resistance
R1/R2	27880/27930
S1/S2	27475/27050

Daily Chart

Technical Outlook

Top Gainers
COALINDIA	270.5
LUPIN	844
IOC	168.2
INFRATEL	293.1

Top Losers
HINDALCO	208
ICICIBANK	297
MARUTI	9,327.00
VEDL	217.95

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