7 July 2014

NIFTY FUTURE OUTLOOK FOR TUESDAY 08-JULY-2014

Bullishness was witnessed in the market due to pre budget rally. The sensex and nifty both edged higher. The Sensex collect 138 points to settle at 26,100, a record closing high. The Nifty collects 35 points to settle at 7,787 a record closing high. The index hit a high of 7,792 in intraday trade, a lifetime high of the index. The index hit a low of 7,755 in intraday trade. The nifty future started at 7810 made a high of 7812 and low of 7760 and closed at 7797 total 52 points was moved by nifty future. Overall market is moving in uptrend. Now for tomorrow market will try to touch the level of 7850 if this level will achieved by nifty future then there will be higher possibilities of nifty future to touch the level of 7900-7930. While if market witnessed any downfall then 7740-7720 will be proved as very good supporting levels of nifty future. Expectation of the investors is very higher from this upcoming budget. Indian stock witnessing a pre-budget rally amid expectations that Finance Minister Arun Jaitley will announce measures in the Budget aimed at bolstering economic growth. If this will be true then market will touch the level 8000, and there will be a measure support of the level 7750 for the nifty. If 7750 will be touched by nifty then it will come back to the level of 7400.
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RESISTANCE: 7790, 7830, 7870
SUPPORT:  7750, 7710, 7670

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