13 July 2016

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 14 JULY 2016

YESTERDAY’S LT FUTURE & TATASTEEL 350 CALL ROCKSSSS ACHIEVED FINAL TGT.
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After opening higher the market closed on flat note on Wednesday amid lackluster day of trades. Markets remained range bound & finished the session on a tepid note as participants turned cautious after sharp gains in the previous sessions and ahead of the June quarter earnings of IT majors TCS and Infosys this week. Profit booking, coupled with disappointing macro-economic inflation data and lower crude oil prices saw the indices close with negligible losses. The BSE Sensex ended with a gain of seven points at 27815. The BSE Sensex opened at 27912 touched an intra-day high of 27929 and low of 27752. The Nifty closed with a loss of mere two points at 8520. The Nifty opened at 8540 hitting a high of 8550 and low of 8494, total 56 points movement was there in the nifty today.
Nifty has managed to close above the 8500 level but the movement was only of 56 points. So for any uptrend 8555 will be the resistance. For making new high nifty have to pass out 8555 resistance level after that 8580 & 8600 will be the target for nifty, whereas 8480 will be the best supporting level. For any correction nifty have to crack 8465 level, once 8465 will break 8400 would be the target for nifty.
Resistances: 8555, 8580, 8600
Supports: 8480, 8450, 8430

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