Outlook Of Nifty/bank nifty today

Nifty:  

Nifty Outlook

Index price sustained on support handle for the week, just closed with a green candle where a consolidation is seen from last four weeks, for the week prices opened at 8608 and closed 95 points up at 8700. On daily frame its a flat move from last two days, 8740 being a strong resistance to break. We expect some pull in index which can head to 8800 in coming days by maintaining a support handle at 8550. On other side if the support of 8550 is broken we may see the prices at 8300 as well.

Banking index is moving in a sharp up trend on daily frame where prices are stopping at the resistance handle of 19740 if the index break this handle we can head to 19900 in coming days. On weekly frame prices are range bound from last four weeks and unable to take any up or down break out on other hand 19200 is a major support. Which if broke we could see the prices at 18950.

Nifty Trends
R1	8750
R2	8880
S1	8600
S2	8550

Technical Outlook:

Nifty Day Performance
Open	8,700.00
High	8,710.30
Low	8,655.00
Close	8700.35

Top Gainers
IDEA	80.10
TECHM	434.00
TATAPOWER	83.50
HCLTECH	830.4583.50

Top Losers
AXISBANK	525.50
HINDALCO	151.45
AMBUJACEM	247.00
ACC	1574.00