3 July 2015

NIFTY OUTLOOK FOR MONDAY 6 JULY 2015

The Indian benchmark indices ended higher in trades on Friday led by buying in banking and capital goods stocks. The sentiment was lifted by reports suggesting a better-than-expected progress of the monsoon. The Sensex advanced 147 points to close at 28092 and the Nifty advanced 40 points to shut shop at 8485. Nifty is hovering near its psychological level of 8500, thanks to brisk buying seen in the stocks of banking and pharma sectors. For the most part of the day the Sensex and Nifty traded on a firm note on the back of gains in banking and capital goods stocks.
Market may remain sideways ahead of Greek referendum; expect rally to resume from Monday onwards, Nifty may hit 8500 in a matter of days
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RESISTANCE: 8500, 8550, 8600
SUPPORT:  8450, 8400, 8350          

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