Nifty Outlook:
The
Indian market reached fresh record highs on Friday as S&P BSE
Sensex hit mount 31k while the Nifty50 climbed 9,600 peak with ease. The
S&P BSE Sensex is up more than 16 percent so far in the year 2017
while Nifty50 rallied a little over 17 percent in the same period. The
next question which everybody wants to ask – will the rally continue?
Well, the latest analyst estimates according to technical indicators
suggest a massive rally for benchmark indices which can take S&P BSE
Sensex towards 100,000 and Nifty50 towards 22,000-38,000 in the next
5-7 years.
Bank Nifty Outlook:
This
week in the banking sector saw some new strategies and announcements
related to bad loans and some capital-raising plans by banks to step up
efforts to revive banks’ financial strength. The highlight, however, was
the 64 percent increase in payout for FY17 received by Chanda Kochhar,
MD and CEO of ICICI Bank, which is also the country’s biggest private
bank. RBI also laid out action plan to implement the Banking Ordinance
in order to provide better resolution of NPAs.
Nifty Trends
|
| R1 | 9640 |
| R2 | 9700 |
| S1 | 9570 |
| S2 | 9500 |
|
|
Technical Outlook:
Top Gainers
|
| TATASTEEL | 511.30 |
| VEDL | 242.25 |
| HINDALCO | 198.25 |
| IBULHSGFIN | 1,086.55 |
| BPCL | 753.00 |
Top Losers
|
| SUNPHARMA | 565.75 |
| IOC | 425.90 |
| CIPLA | 491.25 |
| LUPIN | 1,112.00 |
| TCS | 2,570.05 |
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