Nifty Outlook:
Nifty seems to be in a pressured from the last two to three days. Where we are getting a short real body and long shadows on chart. This move of nifty brings a little worried situation for the day to day traders where the inverters are waiting for a little pull to in the prices to initiate new buying. For the course of week we need some cool down in the prices as prices have moved in the overbought bracket. For the coming week 8500 will be a initial support for Nifty and 8800 will be a immediate resistance.
Bank Nifty:
For the course of week we found good buying in bank nifty we also got higher highs for every next day. And the banking index gave a superb outperforming moves. At the week end we are standing on the high of more than 365 days some correction can took place in coming week as we have crossed the higher band of the Bollinger Band and little profit booking can be seen by traders side for the coming week 19700 will be a initial resistance and 18600 will be the first support for the falling price.
Nifty seems to be in a pressured from the last two to three days. Where we are getting a short real body and long shadows on chart. This move of nifty brings a little worried situation for the day to day traders where the inverters are waiting for a little pull to in the prices to initiate new buying. For the course of week we need some cool down in the prices as prices have moved in the overbought bracket. For the coming week 8500 will be a initial support for Nifty and 8800 will be a immediate resistance.
Bank Nifty:
For the course of week we found good buying in bank nifty we also got higher highs for every next day. And the banking index gave a superb outperforming moves. At the week end we are standing on the high of more than 365 days some correction can took place in coming week as we have crossed the higher band of the Bollinger Band and little profit booking can be seen by traders side for the coming week 19700 will be a initial resistance and 18600 will be the first support for the falling price.
| Nifty Gainers | |
| Stock | Price |
| BANKBARODA | 160.90 |
| SBIN | 258.50 |
| HINDALCO | 158.70 |
| AUROPHARMA | 765.50 |
| AMBUJACEM | 276.05 |
| Nifty Losers | |
| Stock | Price |
| EICHERMOT | 21755.00 |
| INFRATEL | 341.90 |
| TCS | 2602.60 |
| COALINDIA | 334.50 |
| LUPIN | 1570.00 |
| Nifty Resistance & Support | |
| R1 / R2 | 8700/8850 |
| S1 / S2 | 8650/8550 |
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