Nifty performed flat for the day with a channel formation on chart. A long range of consolidation was seen in between the prices of 8245 to 8260. For the day nifty closed red at 8253 and opened at 8266. We expect some up pull in the prices 8340. For this pull support can be taken at 8220.
Bank Nifty Outlook
Bank nifty opened with a gap up but the potential of up side was lost just in an hour and prices travelled flat, for the day index opened at 18343 and closed low at 18320. Where in first half banking stocks took a good upside but later buyers were dominated by the sellers. A pull in prices can be seen in coming days till 18450.
Nifty Day Performance