Outlook Of Nifty/bank nifty today

Nifty Outlook:  

The mid & smallcap stocks came under pressure on Tuesday with some stocks correcting as much as 20 percent in intraday trade. The S&P BSE Midcap and Smallcap indices corrected over 2 percent compared to 0.5 percent fall in the Nifty50. The fall in the mid and smallcap stocks was largely in line with expectations and investors should not get worried about the strength of the market. Instead, dips should be used to buy into quality stocks. Many midcap companies were trading at valuations which some would term expensive; hence, some bit of consolidation was required.

Bank Nifty Outlook:  

Public sector banking major, Bank of India, extended its fall from the previous session on the back of poor results that the lender posted. The stock had fallen 9 percent on Monday post it Q4 results announcement. The lender narrowed its net loss in the fourth quarter results ending March 2017 at Rs 1,045 crore driven by interest income and lower provisions. The net loss a year ago was at Rs 3587 crore. However, the loss comes against a profit of Rs 102 crore in the December quarter.

Nifty Trends
R1	9465
R2	9500
S1	9370
S2	9280

Technical Outlook:

Top Gainers
MARUTI	6,867.95
M&M	1,328.35
EICHERMOT	27,578.05
WIPRO	525.90
HCLTECH	864.85

Top Losers
ADANIPORTS	330.65
AUROPHARMA	540.00
CIPLA	532.95
SUNPHARMA	615.35
BAJAJ-AUTO	2,812.50