Nifty:
The market was closed lower on Thursday with The Nifty fell down 55.75 points or 0.6 percent at 8510.10. Around 1100 shares were positive and 1590 shares were down, and 185 stocks remain unchanged. Buyers are waiting for GST bill. For any upside 8600 will be the resistance to make new high, nifty had to break 8600 level after that 8750 will be the target in coming days for nifty, whereas 8480 will be the near supporting level. It’s the strong time that tomorrow will be the last trading session for the week and we should not get down by 8480 & if so happens we would break the consistency of last eight trading days and a reversal can be seen in coming trading sessions leading for 8380 & 8270 handle.
Bank Nifty:
Weakness in earning drag the market down today. Where European index trading flat. Bank Nifty closed red @ 18704 down by 326 points. Since 18600 is acting as a major support and if the index break this handle we can expect 18450 and 18200 in coming days. On up side we need strong buy to get above 19080 so that profit booking can be done on 19150 handle. Banking sector was facing strong opposite wave and took a dip which break the consistency of last four days , Axis bank was marked 4% down and sellers lead the market with a good profit booking. On other hand the first half was the buyer’s market.
Technical Outlook
The market was closed lower on Thursday with The Nifty fell down 55.75 points or 0.6 percent at 8510.10. Around 1100 shares were positive and 1590 shares were down, and 185 stocks remain unchanged. Buyers are waiting for GST bill. For any upside 8600 will be the resistance to make new high, nifty had to break 8600 level after that 8750 will be the target in coming days for nifty, whereas 8480 will be the near supporting level. It’s the strong time that tomorrow will be the last trading session for the week and we should not get down by 8480 & if so happens we would break the consistency of last eight trading days and a reversal can be seen in coming trading sessions leading for 8380 & 8270 handle.
Bank Nifty:
Weakness in earning drag the market down today. Where European index trading flat. Bank Nifty closed red @ 18704 down by 326 points. Since 18600 is acting as a major support and if the index break this handle we can expect 18450 and 18200 in coming days. On up side we need strong buy to get above 19080 so that profit booking can be done on 19150 handle. Banking sector was facing strong opposite wave and took a dip which break the consistency of last four days , Axis bank was marked 4% down and sellers lead the market with a good profit booking. On other hand the first half was the buyer’s market.
| Nifty Trends | |
| R1 | 8562 |
| R2 | 8614 |
| S1 | 8480 |
| S2 | 8419 |
| Nifty Day Performance | |
| Open | 8579 |
| High | 8585 |
| Low | 8504 |
| Close | 8519 |
| Top Gainers | |
| Axis Bank | 536 |
| Bank of Baroda | 152 |
| Power Grid | 162 |
| Kotak Bank | 760 |
| Top Losers | |
| ACC | 1704 |
| Ultra Cem | 3600 |
| Ambuja Cem | 266 |
| INDUSIINDBK | 1135 |
I got to learn very useful stock market updates here.The Nifty opened modestly higher near the high point of the day but ended lower near the low point of the day. For details contact epic research.
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