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 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 Day Performance|