24 July 2014

NIFTY OUTLOOK FOR FRIDAY 25-JULY-2014

After moving in a narrow range for most part of the trading session, the Sensex picked up momentum in the last one hour of trade and rallied as much as 146 points to hit its fresh record high of 26,292 in trade on Thursday. The Sensex finally closed 137 points higher at 26,271 It hit a low of 26,077 and a lifetime high of 26,292 in trade today. The Sensex has already rallied over 24 % so far in the year 2014 and has become the top performing index in the world on a year-to-date basis. Nifty future also managed to hit fresh lifetime high of 7,835. Nifty Future started at 7788 made a high of 7839 and low of 7762 and closed at 7832, total 77 points was moved by nifty future. 
For tomorrow some strong movement will be expected due to traders roll over position of  (f & o) July series, which will expired on 31 July 2014.Tomorrow nifty will move in the range of 7786-7876.If this level will crossed by nifty then there will be higher possibility for 7900 level. At the other side if any down fall will be there in the market, then 7750-7730 will act as very good supporting levels for nifty future. The momentum is fairly strong in the markets and small corrections, which may happen, should be used to enter the markets or build positions.
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RESISTANCE: 7830, 7860, 7890
SUPPORT:  7800, 7770, 7740

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