Nifty prices fell today after a long consolidation on day frame. Buyers were badly dominated by sellers in the couple of hours at the market opening, later a decent recovery took place and prices closed at 8805, a little correction can be seen in coming day as prices are settled at high node from a long time, we can see prices breaching at 8670 in coming day with a major resistance at 8850.
Bank Nifty Outlook
Bank Nifty opened at 20455 and took a dip till 20055, this was a sharp fall where prices just took an hour to get discounted. Rather all the day it was a little recovery for this long downside & Banking Index closed at 20225. Banking stocks were also jaw down over all first half of the day was for sellers. We expect some down side for tomorrow in bank nifty which can head to 20000 levels following the resistance at 20350.
Nifty Day Performance