We expect banks & Finance companies to be in focus tomorrow By Mr. Rahul Sharma, Equity99
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Below is quote On Today’s Market report by Mr. Rahul Sharma, Co- Founder, Equity99.
Markets ended the day on a lower note with Sensex down 109 points & Nifty down 41 points. Nifty healthcare was the top performer followed by PSU Banks & Healthcare index. Nifty Bank was up today by 174 points with RBL Bank being the top performer. The midcap index was up 257 points. Among Nifty 50 pack Maruti Suzuki was the top performer followed by Titan Company & NTPC while, Tata Steel, Grasim & JSW Steel were top losers.
Driven by results season markets continue to be volatile, tomorrow the telecommunication sector will be in focus with Bharti Airtel set to declare its results today post markets. We also expect banks & Finance companies to be in focus tomorrow.
Technical levels
Nifty 50 – Considering Weekly expiry tomorrow 17800 will act as important support for Nifty on breaking which we might see 17670 levels are once this level is breached 17600 is possible, while on upper side 17950 will act as very strong resistance, if this level is broken than 18000 to 18100 levels are possible.
Bank Nifty – For the Banking index, 39700 will act as crucial Support and if it is broken then 39525 levels are possible and further 39400 is also possible, on the upper side 39900 will act as vert strong resistance on breaking which we might see 40100 levels and if it is broken than 40250 is possible
Results tomorrow – Aditya Birla Fashion, Bata India, Eicher Motors, SBI.
Sector in focus – Telecommunications, Banks, Realty & Power
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