August 22, 2017

Nifty Outlook:

After a long weekend, the market staged spectacular rally Tuesday, with the Nifty closing above 9000 level for the first time on hopes of BJP strengthening reform agenda following emphatic victory in Uttar Pradesh and Uttarakhand. The 50-share NSE Nifty hit an intraday all-time high of 9,122.75 and stayed above psychological 9,000-mark throughout the session. It was up 152.45 points or 1.71 percent to end at 9,087, backed by banks, FMCG and infra stocks.

Bank Nifty Outlook:

Banknifty gave a gap up opening of 449 points and made a red candle for the day by giving closing at 21146. While maintaining 2017 peak Nifty target range of 9,300-9,600, JPMorgan says from hereon, it believes earnings will have to do the heavy lifting. It expects meaningful recovery from second half of next financial year and forecasts 15-18 percent YoY earnings growth.

Nifty 50 Gainers

Stock Price
ICICIBANK 286.70
HINDUNILVR 913.00
LT 1551.95
ULTRACEMCO 3997.45
HDFC 1421.95

Nifty 50 Losers

Stock Price
BOSCHLTD 22281.10
IDEA 102.80
AXISBANK 511.00
COALINDA 295.25
BHARATIRTL 362.25
Nifty Resistance & Support

R1 / R2 9150/9280
S1 / S2 9070/9000

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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