This whole week market index were marginally lower. in the week ended Friday the Sensex
edged lower in three out of five trading sessions in the week just gone by. On Friday
morning the Asian markets are down a tad lower while the July Nifty future is
up only marginally albeit on low volume. Nifty future started at 7550 made
a high of 7569 and low of 7512 and closed at 7545, total 57 points was moved
by nifty future. Nifty future needs to reclaim the level of 7550 and stay above
that to show some sign of a return of strength. So long it remains below that
level, fresh buying is unlikely to emerge in any big way. On the
downside, the
level of 7478 is quite crucial since falling below this range again would mean
a probable retest of 7400 support again. However, as of today, we ought to
remember that until the level of 7600 is decisively taken out the in the medium
term uptrend that began on 16 may, low of 7450 would remain intact. For the
week ahead nifty will try to come back and stay on it’s comfortable zone of 7600.
If this level will decisively take out then there will be higher possibilities
for nifty to touch the level of 7700. And till the budget rally nifty will
raised to the level of 7800. More about intraday tips on Google +
RESISTANCE: 7500, 7570, 7590
SUPPORT: 7530, 7510, 7490
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