Outlook Of Nifty/bank nifty today

Nifty Outlook:  

Equity benchmarks consolidated for fourth consecutive session Wednesday as investors awaited the outcome of Federal Reserve policy meeting tonight and pending corporate earnings. The 30-share BSE Sensex closed down 26.38 points at 29,894.80 and the 50-share NSE Nifty fell 1.85 points to 9,311.95 after a rangebound trade. After a four-day consolidation, the market might gain some strength in next couple of sessions to move towards 9,400 level on the Nifty. According to them, major correction is unlikely in near term as domestic inflows continued to support the market on hopes of faster recovery in earnings.

Bank Nifty Outlook:  

Going forward, positives such as GST, ease of doing business, among others, will boost the indices. The Federal Open Market Committee, which will announce its policy tonight, is likely to hold interest rates as it may wait for more signs of stability in the economy to hinge for further hikePSU banks were in action today, with the Nifty PSU Bank index rising 1 percent but private banks and financials were under pressure. Union Bank, Syndicate Bank, Bank of India, Allahabad Bank, PNB and IDBI Bank rallied 2-5 percent followed by SBI with 0.4 percent upside. ICICI Bank was 1.2 percent ahead of earnings later today. Axis Bank was down 0.88 percent while HDFC lost 1.4 percent.

Nifty Trends
R1	9380
R2	9475
S1	9270
S2	9180

Top Gainers
INFRATEL	362.95
POWERGRID	211.00
ULTRACEMCO	4,300.00
TCS	2,337.80
COALINDIA	280.00

Top Losers
LUPIN	1,267.00
AUROPHARMA	585.95
TATAPOWER	82.20
HINDALCO	197.20
ZEEL	527.00