10 August 2013

NIFTY OUTLOOK FOR MONDAY

Buy Tatasteel future above 220 tg 224,228 sl 216
Sell Tatsmotors future below 280 tg 276,271 sl 284
NIFTY OUTLOOK FOR TOMORROW
The market gained strength on Thursday after a two-day fall, but was down 2 percent for the truncated week on growth concerns after the rupee touched a record low of 61.81 against the dollar. Nifty gained 46 points to finish at 5565, aided by short covering in rate sensitives and metals....

If, at all, there were to be any recovery the Nifty would have to get past the initial supply zone between 5570 and 5590. This zone is the first test zone for any failure swing as we may see a positive opening but the rally might fizzle out even before getting past 5600. For any real recovery, however, the Nifty needs to get past 5610 through 5650 major supply zone.

On the downside, the level of 5500 would continue to provide psychological support
RESISTANCE:5590, 5640,5660

SUPPORT:     5580, 5500,5450

1 comment:

  1. Indian stock market traded positive, Nifty expected to cross 5800 level Nifty blog

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