8 July 2014

NIFTY FUTURE OUTLOOK FOR WEDNESDAY 09-JULY-2014

"Sell RCom Below 135.50 Tgt 132/128.80 Sl 138"
"Buy IDFC Future Above 138 Tgt 141/142.90 Sl 136"
Very volatile market was today. After opening on a firm note the market was slipped into the red in the mid sessions .Both the sensex and the nifty hits more the one week low. The Sensex slipped over 600 points in trade today .The Nifty also witnessed some bit of profit booking at higher levels. The index breached its crucial psychological level of 7600 after hitting its fresh lifetime high of 7808 earlier in the day. The sudden downfall in market was witnessed due to the Shares of most of the railway-related companies slipped 3-13 % in trade on Tuesday, as the Rail Budget failed to live up to market expectations and investors preferred to book profits after a sharp rally seen in most of these stocks so far in the year 2014. Today nifty future started at 7810 made a high of 7817 and low of 7620 and closed at 7630, total 197 points was moved by nifty future. For tomorrow some recovery can be happen in the market, If tomorrow nifty will successfully crossed it’s most crucial level of 7680 then it will come back to it’s comfortable zone of 7765-7795 and if this levels are achieved by nifty then 7850 will most desirable resistance level for nifty future, at the other side if any down trade was witnessed in the market the 7600-7550 will be proved as very good supporting levels of nifty future.
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RESISTANCE: 7650, 7700, 7750
SUPPORT:  7600, 7550, 7500

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