4 August 2015

NIFTY OUTLOOK FOR WEDNESDAY 5 AUGUST 2015

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TECHNICAL ANALYSIS OF BHARTIARTL & DAILY CHART
The Sensex ended four-day winning streak and closed 115 points, lower at 28071, while the Nifty closed , or 26 points lower at 8516, after the Reserve Bank of India keeps rates unchanged in its monetary policy review.In the much awaited policy review by the Reserve Bank of India, the central bank kept  key rates unchanged, as widely expected by most of the experts. The repo rate stands steady at 7.25 per cent and accordingly, reverse repo rate is 6.25 per cent.
For nifty 8590-8600 is proving to be the major hurdle on its way up and this region must be taken out for fresh momentum. On the lower side 8525, 8500 are important supports but the critical level is in the 8475 region and a close below this level will signal weakness.
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RESISTANCE: 8560, 8600, 8640
SUPPORT:  8520, 8480, 8440           

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