31 May 2016

NIFTY OUTLOOK AND FREE NIFTY TIPS FOR 1 JUNE 2016

Markets remained tepid in trade with no significant moves in either direction. Some volatility was there in afternoon dragged market lower. Nifty managed to close above 8150.The Sensex closed down 57 points at 26667, and the Nifty ended 18 points at 8160. Auto shares firmed up ahead of their May sales numbers. Maruti Suzuki, Bajaj Auto and Hero Moto ended up 0.6%-2% each.
Sunpharma was the top loser which ended down 6% on the back of lower than expected annual sales outlook and pressure on profits on the back of higher spends to strengthen its US operations. IT exporters which had gained in the previous session eased on profit taking after the rupee firmed up against the US dollar. Infosys, TCS and Wipro ended down 0.7%-1.8% each. Market is waiting for GDP data for the fourth quarter and financial year ended March 31, 2016.
Tata Motors, Tata Steel, SBI, Maruti and Adani Ports were top gainers while Sun Pharma, TCS, GAIL, ONGC and Reliance were losers.
Before some correction nifty may test 8250-8270.
RESISTANCE:8205, 8250
SUPPORT: 8125, 8090

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