Daily Equity Report

Outlook of Nifty & Bank Nifty Today

Nifty Outlook:-

Bears are taking full control on Dalal Street as the Nifty over 100 points intraday Wednesday, dented by weak global cues and sharp rupee depreciation. The correction was long overdue because market had rallied more than 10 percent year-to-date before this correction began. A good recovery in the last hour helped the market close with shallow cuts.

Nifty Future Support-Resistance
R1/R2	11600/11650
S1/S2	11400/11350

Daily Chart:

Bank Nifty Outlook:-

Like Nifty, Bank Nifty settled lower as investors stayed cautious due to sliding rupee, surging bond yields, and oil prices. Bank Nifty recovered 240 points from the low point of the day managing to end at 11518.25.

Bank Nifty Future Support-Resistance
R1/R2	27650/28050
S1/S2	27300/27050

Daily Chart:

Technical Outlook

Top Gainers
YESBANK	344.05
TATAMOTORS	268.75
WIPRO	319.8
HINDALCO	239.8

Top Losers
INFRATEL	271.9
ZEEL	478
HINDUNILVR	1,606.25
TITAN	865.35

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Daily Equity Report

Outlook of Nifty & Bank Nifty Today

Nifty Outlook:-

Nifty closed in the red for the fifth straight day. Most of Nifty’s sectoral indices were down by over 1% Only the IT index was trading in the green, maintaining its momentum and supporting the market to ensure that it doesn’t fall further. The market breadth was also negative, with over 1,000 stocks declining.

Nifty Future Support-Resistance
R1/R2	11650/11800
S1/S2	11500/11350

Daily Chart:

Bank Nifty Outlook:-

Bank Nifty began on a good note, but selling began within the first few minutes of trade in the morning. Banks were a big drag, but it was the rupee that led to the big drag. Additionally, sentiment could have been soured as FPIs cried foul over SEBIs’ circular asking for KYC compliance for all such cases, failing which they will have to wind up positions.

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

Daily Chart:

Technical Outlook

Top Gainers
TECHM	766
HCLTECH	1,076.00
TCS	2,100.00
INFY	733

Top Losers
GRASIM	1,022.40
IBULHSGFIN	1,210.00
ULTRACEMCO	4,211.00
ASIANPAINT	1,313.00

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Daily Equity Report

Outlook of Nifty & Bank Nifty Today

Nifty Outlook:-

After opening higher Nifty extended rally and hit a fresh intraday record high in early trade, but immediately cooled off to remain in range of 42 points for rest of the session. Nifty formed Hanging Man pattern on the daily charts which is a bearish reversal candlestick pattern which is usually formed at the end of an uptrend or at the top.

Nifty Future Support-Resistance
R1/R2	11640/11690
S1/S2	11500/11350

Daily Chart

Bank Nifty Outlook:-

Bank Nifty ends in red territory traded weak against Nifty as well as failed to give breakouts of its resistance.  Fresh buying only trigger when able to give breakouts of its resistance i.e. of 28400 and sustain above it while 28000 will act as a support for now.

Bank Nifty Future Support-Resistance

R1/R2

28400/28500

S1/S2

28000/27820

Daily Chart

Technical Outlook

Top Gainers
UPL	649.9
TECHM	708.5
COALINDIA	291.2
LUPIN	889.15

Top Losers
TATASTEEL	584
BPCL	369.3
VEDL	218.85
HINDUNILVR	1,753.30

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