Nifty Outlook:
The
Nifty50 registered an inverted hammer candle kind of formation on
Tuesday and a Hammer like pattern on Wednesday suggesting bear are
having control at the moment. The Nifty continued its losing streak for
the fourth consecutive session and trading out of its rising channel
pattern. Overall data indicate that on downside 9000PE having highest
open interest suggesting strong support and the upside 9200CE having
highest open interest showing strong resistance.
Bank Nifty Outlook:
The RBI and finance Ministry are discussing various formulations with
respect to NPA resolution and think we should be able to shape some
policy on that in the near future, is the word coming in from RBI's
deputy governor SS Mundra. The whole of Indian Inc, Indian investors,
foreign investors and bankers are eagerly waiting for the NPA resolution
from the Reserve Bank of India and the government.
| Nifty 50 Gainers |
| Stock | Price |
| GRASIM | 1,142.10 |
| BANKBARODA | 179.55 |
| GAIL | 404.20 |
| IBULHSGFIN | 980.00 |
| ADANIPORTS | 332.60 |
| Nifty 50 Losers |
| Stock | Price |
| YESBANK | 1,545.50 |
| ICICIBANK | 273.05 |
| AXISBANK | 488.25 |
| IOC | 427.30 |
| TATAPOWER | 84.30 |
| Nifty Resistance & Support |
| R1 / R2 | 9180/9260 |
| S1 / S2 | 9070/9000 |
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