Daily Equity Report

Outlook of Nifty & Bank Nifty Today

Nifty Outlook:-

Nifty continues to venture in to uncharted territory as it inched closer to the 11,500-zone. Any decline seems to get arrested quickly on the downside; in fact, the upswing is so strong that Nifty is not even breaching its short-term 5-DEMA. A break above the immediate resistance of 11,500 would further lift Nifty towards the potential target of 11,600-11,650-levels, while 11,350 remains the crucial support.

Nifty Future Support-Resistance
R1/R2	11510/11600
S1/S2	11350/11200

Daily Chart:

Bank Nifty Outlook:-

Bank Nifty, on the other hand, has broken out from a fresh consolidation phase. This indicates that the index has legs to rally further. Our monthly chart analysis indicates that Bank Nifty has immediate resistance at the rising trendline of 28,750-28,800-levels, while support is upgraded to 28,000-levels.

Bank Nifty Future Support-Resistance
R1/R2	28150/28400
S1/S2	27800/27400

Daily Chart

Technical Outlook

Top Gainers
SUNPHARMA	605.6
YESBANK	383.5
LUPIN	838.75
CIPLA	645.95

Top Losers
UPL	608.9
ADANIPORTS	372.35
HEROMOTOCO	3,266.40
BHARTIARTL	366.5

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Daily Equity Report

Outlook of Nifty & Bank Nifty Today

Nifty Outlook:-

Nifty opened gap up on Wednesday and traded with a positive bias throughout the day. The benchmark index managed to end the day near the high point of the day at 11,450, up 60 points. The index formed a bullish candle on the daily charts after two successive bearish candles. The next crucial resistance for the index is placed at 11,500-11530 while support is placed at 11,330.

Nifty Future Support-Resistance
R1/R2	11500/1200
S1/S2	11350/11250

Daily Chart

Bank Nifty Outlook:-

Bank Nifty closed above the 28,000-mark for the first time and ended 186 points higher at 28,062. Nifty PSU Bank Index was the best performing sectoral index and closed 0.89% higher.

Bank Nifty Future Support-Resistance
R1/R2	28200/28500
S1/S2	27800/27400

Daily Chart

Technical Outlook

Top Gainers
ONGC	172.8
RELIANCE	1,220.80
CIPLA	644.1
INFRATEL	292.5

Top Losers
LUPIN	822.15
MARUTI	9,210.00
HINDPETRO	283.9
BPCL	388.95

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Stock Market Trading Tips-Sensex trades flat after subdued opening, Nifty around 11,400; Mphasis down 3%

After opening in the green, equity benchmarks are currently off the day’s high points are trading flat. The Nifty is struggling around 11,400-mark. Selling is visible in pharmaceutical names, while metals continue to be the top gainer among sectoral indices.

 The midcap index, too, is trading flat right now. Among stocks, shares of Mphasis have fallen over 3 percent even as it reported 38 percent growth in net profit and announced a buyback. Asian Paints, ONGC, Zee Entertainment and Hindalco were the top gainers, while ICICI Bank, Axis Bank, HPCL and BPCL have lost the most. 

The Sensex is up 1.28 points or 0.00% at 37667.08, while the Nifty is down 1.20 points or 0.01% at 11388.30. The market breadth was narrow as 921 shares advanced, against a decline of 784 shares, while 88 shares are unchanged.

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Daily Equity Report

Outlook of Nifty & Bank Nifty Today

Nifty Outlook:-

Markets opened higher but selling pressure through the day pared initial gains. Nifty had given a gap up opening of 36 points and hit a fresh all-time high during intraday trade. However, profit-booking resulted in the index closing flat (up 4 points) at 11,418.35.

Nifty Future Support-Resistance
R1/R2	11450/11500
S1/S2	11350/11250

Daily Chart

Bank Nifty Outlook:-

Bank Nifty ends on flat to negative note, private bank Index tanks more than 2 percent after PNB reported its second consecutive quarter of loss as the country's second-biggest state-run lender set aside more funds for a massive fraud it disclosed earlier this year.

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

Daily Chart

Technical Outlook

Top Gainers
TATASTEEL	575.5
TITAN	929
BAJFINANCE	2,752.80
EICHERMOT	27,595.00

Top Losers
ADANIPORTS	373.2
COALINDIA	275.5
HINDPETRO	288.8
BPCL	394.2

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