18 July 2016


"BUY IDEA FUTURE ABOVE 105.4 TG 106.7/108.2 SL 103.2"
"BUY SBIN 225 PUT @ 3.6 TG 4.9 / 5.75"
The Week has started on positive note, but at the time of closing it came down. Wiping out most of its early gain the market closed lower on Monday. The Sensex ended with a loss of 90 points at 27747. The Sensex opened at 27920 touched an intra-day high of 28014 and low of 27697. The Nifty closed with a loss of 33 points at 8509. The Nifty opened at 8564 hitting a high of 8587 and low of 8494.
Traders are eyeing the monsoon session of parliament, which begins today, amid expectations that the key GST Bill may be passed soon. The 8525-8550 will be the hurdles for bulls, if bulls successfully take out the levels once again they will come back to comfort zone of 8580. At the other end if bears managed to pull the nifty below 8480 level, once again down trend will take place & 8450-8430 levels going to be seen.
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RESISTANCE: 8530, 8575, 8600
SUPPORT:  8500, 8475, 8450

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