Outlook Of Nifty/bank nifty today

Nifty:  

Nifty Outlook

Nifty traded on positive note today, with gap-up opening from Friday’s close. In between of geo-political tensions, easing was seen in Index today and overall posted small gains. The Fibonacci ratio of 61.8% i.e.9700 level acted as good support in hourly chart for Index. Midcap and small-cap counters also posted gains for the day. Grasim and Tata power showed a good rally of 4-5 percent, on better than expected results.

Bank Nifty:  

 

Bank Nifty Outlook

 Bank Nifty gave a gap up opening for the day and managed to close on positive note. Major player in PSU banks, SBI traded almost 1% percent down, seeing to it its weak results. Private players in the segment posted gains, while PSU’s struggled. Bank of Baroda fell 0.25% as seen on the chart. Further Index eased today and managed with a positive closing, still geopolitical fears keeping the gains small.

Nifty Trends
R1	9880
R2	9983
S1	9700
S2	9610

Technical Outlook:

Nifty Day Performance
Open	9,778.25
High	9,837.80
Low	9,776.70
Close	9815.60

Top Gainers
CIPLA	569.50
SUNPHARMA	471.90
TATASTEEL	624.00
TATAPOWER	79.65

Top Losers
BOSCHLTD	22,195.00
BHARTIARTL	409.50
HCLTECH	862.00
BPCL	478.80