Outlook of NIFTY | BANK NIFTY

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Nifty Outlook:  

Nifty traded on positive note today. Index gained strength and ended record higher, with the Nifty trading above 10,250 level, backed by banking stocks. Nifty-50 futures ended higher on economic package announced by Finance minster, We may see Nifty witnessing resistance around 10370 – 10450 level. Midcap and small cap index too touched the higher levels.


Bank Nifty Outlook:  


Bank Nifty Index saw a positive rally and ended around the record high. Index opened up with a gap-up opening and later gained 500 points for the day.  Bulls were seen dominating the day. Major PSU players in the sector remained positive, while ICICI Bank gained among private players were seen on the same note. Govt induction of economic package for govt bank lender backed up the sentiments. Next 25200 can be seen as major resistance for the index.

Nifty Trends
   R1
10370
R2
10450
S1
10200
S2
10100

Technical Outlook


Top Gainers
SBIN
322.95
ICICIBANK
305.35
ULTRACEMCO
4,470.00
LT
1,203.50



Top Losers
IBULHSGFIN
1,268.80
BAJFINANCE
1,731.90
YESBANK
330.60
KOTAKBANK
1,016.00


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