Nifty above 10,800, Sensex up 100 pts; IOC, Sun Pharma top gainers

Benchmark indices are erased some of its morning gains with Nifty holding above 10,800 level.

At 10:04 hrs IST, the Sensex is up 85.09 points at 35990.52, while Nifty is up 17.50 points at 10824.20. About 1035 shares have advanced, 538 shares declined, and 80 shares are unchanged. 

It is a strong start for the indices on Thursday with Nifty trading around 10,850 level.

At 09:18 hrs IST, the Sensex is up 139.66 points at 36045.09, while Nifty is up 40.90 points at 10847.60. About 525 shares have advanced, 138 shares declined, and 33 shares are unchanged. 

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Sensex, Nifty flat; HCL Tech in focus ahead of Q3 earnings

Benchmark indices started the day on lower side with Nifty trading below 10,650 level.

At 09:16 hrs IST, the Sensex is down 114.76 points at 35541.94, while Nifty is down 41.00 points at 10620.50. About 241 shares have advanced, 397 shares declined, and 34 shares are unchanged. 

Adani Port, HCL Tech, UltraTech Cement, are among major gainers on the indices, while losers are Bank of India, Yes Bank, Bajaj Finserv, M&M, Gail, Cipla, Dish TV, Zee Entertainment, Titan and Tata Power.

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Daily Equity Report

Outlook of Nifty & Bank Nifty Today

Nifty Outlook:-

Bears tightened grip on Dalal Street. Weakness in global peers and selling pressure in banks, auto, FMCG and metals stocks dampened market sentiment. The sharp fall for second straight session and correction by around 300 points strengthened the bearish sentiment, Nifty could drop below 10,600 levels if it stays below the 200-DMA, which is placed around 10,767 levels.

Nifty Future Support-Resistance
R1/R2	10800/11000
S1/S2	10550/10350

Daily Chart:

Bank Nifty Outlook:-

Bank Nifty failed to surpass 26,950 zones and corrected towards its major support of 26,666 levels. It formed a bearish candle and started to form lower lows for third consecutive session. Now if it sustains below 26,666 zones weakness could be seen towards 26,500 and lower levels while on the upside hurdles are seen at 26,950-27,000 zones.

Bank Nifty Future Support-Resistance
R1/R2	26990/27450
S1/S2	26290/25700

Daily Chart:

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Technical outlook of top 2 stocks

·        IBULHSGFIN FUT

Stock closed around its support which can be seen in below daily chart breakouts may seen in coming trading session.

INTRADAY
R1	93.50	Stock Info
R2	96
R3	100	VOLUME	28650000
LEVEL	90.20	DAY HIGH	89.75
S1	84	DAY LOW	84.65
S2	80	MARKET LOT SIZE	6000
S3	75	VWAP	87.56
All over trends	Bullish

·        REPOCOHOME FUT

Stock is being trading lower form last couple of trading session and closed near around its  trend line support zone. The stock may fall further.

INTRADAY
R1	340	Stock Info
R2	350
R3	375	VOLUME	335700
LEVEL	323.50	DAY HIGH	338.50
S1	315	DAY LOW	324.00
S2	290	MARKET LOT  SIZE	900
S3	280	VWAP	330.51
All over trends	Bearish

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Daily Equity Report

Outlook of Nifty & Bank Nifty Today

Nifty Outlook:-

Nifty closed lower as selling pressure were seen in banking, infra and financial stocks, while IT is the top gainer amid caution ahead of RBI’s monetary policy committee meeting outcome on Wednesday. Uncertainty over US-China trade truce has also weighed on indices.

Nifty Future Support-Resistance

R1/R2

11000/11100

S1/S2

10850/10750

Daily Chart:

Bank Nifty Outlook:-

Bank Nifty lower ahead of the outcome of the Reserve Bank of India's (RBI) monetary policy meeting, which is due on Wednesday. The three-day review meeting by the central bank began on Monday. Analysts expect RBI to support an economy that is losing momentum by leaving interest rates unchanged.

Bank Nifty Future Support-Resistance

R1/R2

27070/27300

S1/S2

26500/25950

Daily Chart

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