19 July 2014


In this whole week bullish rally was witnessed there in the market. The market gained in four out of five trading sessions in the week just gone by. The rally has been fierce with foreign institutional investors infusing nearly $23 billion in the Indian markets so far in 2014, mainly betting on the reform agenda by the new government. 
  • The market registered small losses after moving in a narrow range during the trading session on Monday, 14 July. The Sensex shed 17 points to settle at 25,006.
  • The market snapped five-day losing streak on Tuesday, Sensex garnered 221 points to settle at 25,228 on Tuesday.
  • On Wednesday 16 July a decent growth in India's merchandise exports in June 2014 triggered a rally on the domestic bourses . The Sensex garnered 321 points to settle at 25,549 on Wednesday.
  • The market eked out small gains after moving in a narrow range in intraday trade on Thursday, 17 July. The Sensex garnered 11 points to settle at 25,561 on Thursday.
  • The market edged higher in choppy session of trade on Friday, 18 July. The Sensex was up 80 points.
On the week ended Friday markets stabilized as euro zone banking jitters faded, to be replaced by caution ahead of corporate earnings and a raft of global economic events including testimony from the head of the Federal Reserve, positive macro economic data also boosted the market sentiments. Good CPI & WPI number's brought up some strength in Sensex. Nifty July future managed to close at 7668.Nifty future started at 7623 made a high of 7692 and low of 7587,total 105 points was moved by nifty future on Friday.In short term, market tested its major support level and bounced back, it took support from it's 50 days moving average and closed at 7668.
Overall the trend of Nifty  Future is still bullish on chart. In the upcoming week NiftyFuture will show some more very good strength, it manages to cross its resistance level of 7750 and will test the levels of 7830 and 7900 on lower side 7535 will act as major support level breach of this can take nifty to 7430 & 7380 levels.
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RESISTANCE: 7675, 7700, 7725
SUPPORT:  7650, 7625, 7600

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