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Outlook Of Nifty/bank nifty today

Nifty Performance: Nifty performed well for the course of day Nifty opened at 8512 and close 15 points up at 8527. Talking for the day move we didn’t get that good move which was expected after the performance of yesterday. But even though we the good thing is that we sustain the yesterday handle and day candle closed in green color. The factor to think for is, that monsoon session is going to begun and the clouds of GST bill to pass is getting bigger and bigger.

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Nifty is already sitting on the edge which is high end of 2016 and the we expect big move on the day of GST bill as it will effect the price move of index on major side.

 

Bank Nifty: Bank Nifty became the buyers choice for the day and performed much better than the Nifty 50. Bank Nifty opened at 18525 and closed at 18667. An up move of 142 points was seen on chart. Banking sector performed really well and supportively Commodity sector took the initiate to get confidence of buyers, where Cairn, VEDL, JindalStel &  Tata Steel performed etc were top performer

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Technical Outlook

Nifty Day Performance
   Open 8512
High 8534
Low 8492
Close 8528
Top Gainers
Tata Steel 343
Icici Bank 261
Hindalco 135
Axis Bank 560
Top Losers
Tata Power 72
Bpcl 1117
Cipla 515
Coal India 317

About Starindiamarket

Star India Market Research - SEBI Registered Investment advisory Company In India. Our experts provides trading recommendations in Stock, Commodity and Currency Market.

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