For Monday Nifty/Bank Nifty Trends

Nifty:  

Nifty Outlook

Taking a gap up opening for the day, Nifty closed red at 8267. While on week on week basis prices are sustaining on the resistance levels at 8280. Talking for the buzz that GDP is about the be lower for FY 2017 at 7.1% where it was 7.6% for the FY 2016. Major twist comes from Mr. T.C.A. Annant Chief Statistician updated not involving the data from Oct to Dec 2016 due to Demonetisations of money. For the time being it becomes difficult to forecast the actual rate but can be some where to 6.9, plus minus 2 points. For nifty index we expect prices to range for 8500 levels in coming weeks, and support falls at 8100 levels.  

Bank Nifty:  

Bank Nifty Outlook

 Bank Nifty closed above the resistance on daily basis and now we expect the prices to be positive for coming days that can breach for 18500 and 18900 in coming day. On other hand we have may result in jan 2017 for banking stocks and expect some good outcome from them as far demonetisation have been in focused in Q4FY2016. On other side minimum wages have been increased from 60k USD to 1L USD on H1B & L1 Visa, which will impact the performance of IT Comp and can pull the prices down in stock market.

Nifty Trends
R1	8350
R2	8500
S1	8180
S2	8100

Technical Outlook:

Nifty Day Performance
Open	8,305.55
High	8,329.60
Low	8,256.50
Close	8267.65

Top Gainers
YESBANK	1249.50
KOTAKBANK	714.90
EICHERMOT	22182.50
BANKBARODA	153.75

Top Losers
TECHM	468.65
HCLTECH	813.50
IDEA	72.85
WIPRO	469.60