Saturday, July 5, 2014

NIFTY FUTURE OUTLOOK FOR NEXT WEEK 07 JULY-11 JULY ,2014

Likely to extend record setting streak next week, although much will depend on Prime Minister Narendra Modi's maiden budget to be unveiled on July 10.
Investors will be hoping the government will unveil next week a credible budget that seeks to raise revenue, including from sales of state-run firms, while at the same time keeping spending under control. Investors will also be closely tracking monsoon rains, which accelerated this week after recording the weakest first month of the June-September rainy season in five years. 
NIFTY FUTURE NEXT WEEK
In this whole week the trading session witnessed choppy trading with a positive bias, supported by gains in pharma, banks, autos and technology stocks.  In this whole week the Sensex & nifty both rose up but in trade the nifty was very range bound since Tuesday. Now the countdown is begin for the upcoming budget 2014. However, there are just four trading sessions left ahead of the main event due on July 10.All the investors having so many expectations from the upcoming budget, 2014. Expectations are that the index should be able to make new all time highs ahead of the Budget 2014. The Street is already hoping for a more pragmatic budget this time, which focuses more on reducing fiscal deficit, boosting growth and reviving the investment cycle.
The Sensex is trading very close to its next crucial resistance level of 26,000. And nifty is also very close to the level of 7800.
NIFTY FUTURE MOVEMENT IN THIS WHOLE WEEK -
Days  
Opened
High
Low
Closed
Movment
Monday
7556
7649
7555
7623
26
Tuesday
7646
7678
7618
7637
60
Wednesday
7709
7758
7702
7748
56
Thursday
7761
7773
7726
7739
47
Friday
7754
7791
7676
7790
115
Now from the next week very good trading sessions are expected due to pre- budget rally. The index is trading above its short term averages indicating that the positivity is still intact and with small push higher levels of 7800-7850, if these levels are strongly achieved by the nifty then there will be higher possibilities of bulls to take the nifty to the level 7900- 8000. We would avoid going aggressively long on the market and in fact, we would advise traders to adopt a stock centric approach. In case, if the momentum picks up in the coming session then the index may re-test 7850 –8000 levels. On the flipside, 7600 – 7500 are seen as immediate support level for the index. Hence, any weakness around 7600 – 7580 will be placed then there would again give an opportunity will be there for bears to dragged the index to test the 7450 level. Higher volatility expected on the budget day 10 July, 2014.So with positive hopes just tied up your seat belts for upcoming trading sessions and make as much profit you can make.
More about intraday tips on Google +

No comments:

Post a Comment