Outlook Of Nifty/bank nifty today

Nifty:  

Nifty Outlook

It was a jumbled day for financial market as the last night our President Mr Narendra Modi ban the currency denomination of 500 and 1000 from today onwards, and there currency paper were illegal from today itself Index was badly affected by this and a gap down of by 464 points on other side USDINR were less effect as compared to the stocks. Trades bear the tentative loss of SIX lack crore  in just first hour of opening. But later prices resist and were waiting for the outcome of the US election which made Donald Trump the 45th President of United States. We saw a positive wave after this and almost all the downfall of the index and the stocks were recovered by the time, today itself. Over all it was a very superb day which started with the losses and ended with a huge bugs of profit in the pocket. For the coming days we expect the recovery in Nifty prices, where we can head to 8700 for the day index made the biggest move after the BRTexit of 464 points in a day..

Bank Nifty:  

Banking sector became the most volatile for the day after the ban of 500 and 1000 currency note real estate too saw a fall in contest to the black money. Not even the banking sector but the banking stocks just fell to the Jaw. Unexpected happened that we got recovery from the bottom today itself. After this down side we expected that it would take atleast couple of weeks to get the prices on back on the track. As few were expecting that prices may slip more after the US election outcome. But again we saw the twist and stocks started to recover after Mr. Donald was declared as a 45th U.S. president. Finally Bank Nifty travelled 1360 points for the day.     

Nifty Trends
R1	8540
R2	8680
S1	8330
S2	8230

Technical Outlook:

Nifty Day Performance
Open	8,102.25
High	8,493.50
Low	8,076.00
Close	8,076.00

Top Gainers
DRREDDY	3294.80
SUNPHARMA	666.00
SBIN	260.80
POWERGRID	181.15

Top Losers
AMBUJACEM	231.00
MARUTI	5410.00
TCS	2185.80
TECHM	435.00