Nifty Outlook:
After
consolidation, the market started inching towards its record highs on
hopes of improvement in January-March quarter earnings that will begin
with Infosys numbers on April 13.With this rally, experts feel
valuations already stretched and even a lot of midcaps are at peak
levels. According to them, the earnings season is expected to be the
only driver for the market from hereon. Hence, the Nifty crossing the
psychological 9300-mark is entirely dependent on earnings and that is
why the index has been consolidating in a range of 200 points. For the
time being, it is least bothered about global cues that are not likely
to hit sentiment in Indian markets.
Bank Nifty Outlook:
Yes
Bank ended at record closing high of Rs 1,631.75, up 1.11 percent as
CLSA raised profit estimates by 6-7 percent and target price to Rs 1,920
(from Rs 1,780 earlier) after its recent fund raising. On the global
front, European markets were moderately higher despite investor concerns
over a drumbeat of geopolitical news. Asian markets ended mixed, with
the Nikkei falling 1 percent.
Nifty Trends
|
| R1 | 9270 |
| R2 | 9340 |
| S1 | 9160 |
| S2 | 9100 |
|
|
Technical Outlook:
Top Gainers
|
| BOSCHLTD | 23,600.00 |
| INFRATEL | 367.35 |
| SUNPHARMA | 685.90 |
| EICHERMOT | 26,320.00 |
| YESBANK | 1,634.00 |
Top Losers
|
| TATASTEEL | 477.55 |
| WIPRO | 500.00 |
| HINDALCO | 192.55 |
| GAIL | 377.10 |
| ZEEL | 529.55 |
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