Nifty:
Nifty Outlook
Starting of the new session of Aug 2016 nifty ended up with a red candle but showed a good interest of buyer which broke the resistance and kept the pricing sustaining above the 8660 levels. Looking on the weekly frame Nifty performed well for the week by giving a long green candle which opened at 8545 and closed at 8686 by making a high of 8744. For the coming week we have some positive expectations from the chart. We believe that the 8800 and 9000 handle can be seen in coming weeks where the major support can be maintain at 8550 and 8400. In the coming days 8880 will be a major challenge to get a crossover, but once we hit above 8880 it could make buyers like a blind buying in the index.
Bank Nifty:
Bank Nifty performed well for the course of week and closed at resistance handle of 19000 continuing the uptrend from the month of march we have came to a major resistance of 19200 and now it seems little tough to break this handle. But once the handle is broken we could approach for the 19600 and 20000 brick in coming weeks. But 19200 handle will be the one which could test the potential of the buyers. For this we also expect some good output from the banking sector as well.
Technical Outlook:-
Nifty Outlook
Starting of the new session of Aug 2016 nifty ended up with a red candle but showed a good interest of buyer which broke the resistance and kept the pricing sustaining above the 8660 levels. Looking on the weekly frame Nifty performed well for the week by giving a long green candle which opened at 8545 and closed at 8686 by making a high of 8744. For the coming week we have some positive expectations from the chart. We believe that the 8800 and 9000 handle can be seen in coming weeks where the major support can be maintain at 8550 and 8400. In the coming days 8880 will be a major challenge to get a crossover, but once we hit above 8880 it could make buyers like a blind buying in the index.
Bank Nifty:
Bank Nifty performed well for the course of week and closed at resistance handle of 19000 continuing the uptrend from the month of march we have came to a major resistance of 19200 and now it seems little tough to break this handle. But once the handle is broken we could approach for the 19600 and 20000 brick in coming weeks. But 19200 handle will be the one which could test the potential of the buyers. For this we also expect some good output from the banking sector as well.
| Nifty Trends | |
| R1 | 8750 |
| R2 | 8880 |
| S1 | 8600 |
| S2 | 8500 |
Technical Outlook:-
| Nifty Day Performance | |
| Open | 8,708.00 |
| High | 8,744.70 |
| Low | 8,668.50 |
| Close | 8686.60 |
| Top Gainers | |
| EICHERMOT | 22500 |
| ADANIPORTS | 232 |
| ZEEL | 499 |
| LUPIN | 1743 |
| Top Losers | |
| ICICIBANK | 262 |
| BHARTIARTL | 361 |
| BHEL | 145 |
| HDFC | 1375 |
I found this post really very informative. Various very useful updates are shared here. get similar updates live on social media by following epic research.
ReplyDelete