28 June 2014


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.  
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RESISTANCE: 7500, 7570, 7590
SUPPORT:  7530, 7510, 7490

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