October 20, 2017

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

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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