Daily Nifty/Bank Nifty News Letter

Nifty:  

Nifty Outlook

Nifty traded flat today. Opening was just two points above the previous close at 8229. For the day closing was marked at 8197. A tension can be seen on chart where prices are trading in a tight range of 8230 to 8180. We are positive on nifty, but an impact can be seen from global market after the release of monitory policy and unemployment rate late tomorrow

Bank Nifty:  

Bank Nifty Outlook

 Bank nifty took a long consolidation today. Prices formed a channel between 18450 and 18400, whole day bank nifty struggled to break this range but was unable to sustain, out from this range. For the day axis bank was the main gainer in the banking sector. A big move is expected in banking index tomorrow and we are positive for index prices  

Nifty Trends
R1	8240
R2	8360
S1	8105
S2	8035

Technical Outlook:

Nifty Day Performance
Open	8,229.00
High	8,229.00
Low	8,172.00
Close	8197.65

Top Gainers
AXISBANK	466.55
HCLTECH	822.00
RELIANCE	1056.35
TATAPOWER	78.70

Top Losers
COALINDIA	292.40
BOSCHLTD	20345.00
AUROPHARMA	701.00
EICHERMOT	21790.00