Outlook Of Nifty/bank nifty For Monday

Nifty:  

Nifty Outlook

Nifty took a downside at the weekend and closed at 8827. For the whole week prices moved in a tight range from 8840 to 8800 where the ticks were marked at 8872 & 8727 since its a long consolidation on chart from last two weeks so we can expect some good moves in coming days which will be supported by the result outcome of many companies. Since prices are settled on year high so some down side is more preferred in coming days. Which can hit to 8500 & for upside it seems difficult to cross 8990.

Bank Nifty:  

Bank Nifty Outlook

For the whole week banknifty moved in a big consolidation but on Friday we saw a big upside in index prices where high was hit at 2087, which became the all time high for last 12 months and closing was marked at 20522. As a gap up was marked on chart on Friday, hence we expect some down side in coming days. 20100 became a major support. If any break sustain below this support level we can see prices trending at 19700 as well.

Nifty Trends
R1	8890
R2	8970
S1	8740
S2	8630

Technical Outlook:

Nifty Day Performance
Open	8,869.75
High	8,872.45
Low	8,800.10
Close	8827.00

Top Gainers
SUNPHARMA	673.10
HDFCBANK	1375.00
ICICIBANK	284.60
GAIL	512.90

Top Losers
INFRATEL	307.50
HINDALCO	183.40
IDEA	105.90
WIPRO	474.20