Nifty Outlook:
The
U.S. dropped the largest non-nuclear bomb it’s ever used in combat on
Islamic State positions in Afghanistan Thursday night, a move the Trump
administration said was aimed at denying the group’s freedom of
movement. The Nifty broke below its four key support levels on Thursday
as bears managed to build pressure on markets from the word go. The
Nifty, which opened above its crucial resistance level of 9,200 at
9,202.50 rose slightly to 9,202.65, but then bears pushed the index to
its intraday low of 9,144.95 before closing the day at 9,150.80, down 52
points or 0.57 percent from its previous close of 9,203.45.
Bank Nifty Outlook:
The
head of SBIN the country's largest lender, said she expects a boost to
annual profit of as much as Rs 30 billion (USD 465 million) in three
years on cost and efficiency gains from the absorption of associate
banks. As of March 17, banking sector loans had grown just 4.4 percent,
compared with 10.9 percent in the previous year, the weakest pace since
the fiscal year ended March 1954. SBI has forecast loans to grow 11
percent this financial year after an expected 6.5 percent growth in the
year ended March.
Nifty Trends
|
| R1 | 9200 |
| R2 | 9280 |
| S1 | 9100 |
| S2 | 9040 |
|
|
Technical Outlook:
Top Gainers
|
| IOC | 422.00 |
| IBULHSGFIN | 957.00 |
| BANKBARODA | 175.50 |
| BPCL | 728.90 |
| SUNPHARMA | 691.50 |
Top Losers
|
| HINDALCO | 183.10 |
| INFY | 932.90 |
| INFRATEL | 355.00 |
| TATASTEEL | 462.85 |
| TATAMTRDVR | 276.95 |
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