Nifty:
Nifty Outlook
The
Nifty witnessed selling pressure at every rise last week as well. It
even closed below its highest Put base of 8000 strike in the last couple
of sessions of the week. Due to the support from select heavy weights
like Reliance Industries and HDFC Bank, the Nifty managed to hold near
8000. A further decline in the index towards expiry cannot be ruled out
if it fails to move above 8060.
Bank Nifty:
Bank Nifty Outlook
After
consolidating in the sub 18500 range for a major part of the week, the
index finally saw a breakdown and moved below the major Put base of
18000 and ended 550 points lower during the week. As the index slipped
slipped below 18000, Call writers writers shifted shifted their focus
towards towards 18000 and 18200 strike options options whereas whereas
on the Put side, some additions were seen at the 17500 strike. We feel
18200 is likely act as a stiff hurdle for December expiry. The bounce in
the index should be utilised to create short positions
Nifty Trends
|
| R1 | 8098 |
| R2 | 8211 |
| S1 | 7908 |
| S2 | 7830 |
Technical Outlook:
Nifty Day Performance
|
| Open | 7,975.00 |
| High | 8,037.35 |
| Low | 7,953.00 |
| Close | 7995.00 |
Top Gainers
|
| GAIL INDIA | 3.9% |
| CIPLA LTD | 2.8% |
| GRASIM IND | 1.4% |
| NTPC | 0.7% |
Top Losers
|
| AXIS BANK | -7.6% |
| IDEA CELLULAR | -7.1% |
| HINDALCO | -6.4% |
| AUROBINDO PHAR | -6.3% |
No comments:
Post a Comment