October 21, 2016

Outlook Of Nifty/bank nifty today:

Nifty Outlook:

Nifty opened positive for the day @ 8695 but was not able to get the confidence of buyers and started falling till 8601 where gave the closing at 8657. We found a hammer candle on the chart that didn’t broke the support on chart. Where CPI is breaching at 6% mark we are bit worried but still we believe that 5 percent of RBI’s target is still achievable for FY17. We still believe that nifty would take a positive move tomorrow and buyers would support the prices to uplift.


Bank Nifty:  

Bank Nifty making consecutive three green candles on day frame make buyers confidence more strong in the banking sector. Moreover we found the prices breaching the resistance zone and making a possibility to give a good break out for tomorrow. We are positive for the bank nifty and expect it to break the head of 19110 which can lift the prices to 19200, where on lower side 18700 is a support handle


Nifty Trends
   R1 8700
R2 8750
S1 8600
S2 8570

 Technical Outlook:

Nifty Day Performance
   Open 8,695.35
High 8,706.25
Low 8,601.00
Close 8659.90


Top Gainers
CIPLA 554.00
BPCL 596.00


Top Losers
BOSCHLTD 23965.20
TECHM 482.30
HCLTECH 796.00

SEBI Register company-Star India Market Research-An investment advisor gives stock tips, equity tips, commodity tips, mcx tips, ncdex tips, agri commodity tips.


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