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Nifty Outlook

* After an opening, the benchmark index losses its early gain and dragged lower, made a low at 14460.15 levels in early session after that we saw some recovery from the bottom and finally its managed to close to 14637.80 levels with the loss of 1.5%.

* All the sectoral indices closed at red note except Nifty IT & Nifty Metal, which supported nifty recovery further.

* On the stock front, IT stocks were buzzing from the opening of the market where HCLTECH, TCS, WIPRO, INFOSYS were the top gainers while Banking & Financial stocks like BAJFINANCE, INDUSINDBANK, SBI, AXISBANK became a prime laggard for the day.

* Technically, the nifty index has found the support at 50 days Exponential Moving Averages and closed above it. Moreover, an oscillator Stochastic also showed positive crossover on the daily chart.

* At present, Nifty seems to have a support at 14450 levels, whereas resistance is placed at 14900 levels.

Bank Nifty

* On a Daily Chart,Banknifty has settled at 32678.85 levels with the loss of 1180 points.

* Furthermore, the index has been taken support of 100 Daily Average, sustained above it can show upside movement.

* On an Hourly Chart, Index has confirmed Bullish Harami Candlestick Pattern which suggest upside movement can be seen.

* At Present in the Index has support comes at 32400 level while resistance comes at 33600 Level.

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