19 July 2016

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 20 JULY 2016


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The market is flat with the Nifty hovering around 8500The 50-share index is up 4 points at 8512. Trading volumes were thin, with investors also waiting for other corporate earnings and the progress of the Monsoon Session of Parliament amid hopes the government would be able to push through a revamp of the goods and services tax.
A range bound movement was witnessed as key benchmark indices languished in negative zone in mid-afternoon trade.  Finally, the Sensex ended with a gain of 41 points at 27788. The Sensex opened at 27790 touched an intra-day high of 27826 and low of 27638. The Nifty closed with a gain of 20 points at 8529. The Nifty opened at 8514 hitting a high of 8540 and low of 8477.
Nifty has managed to close above the 8500 level but the movement was only of 63 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.
Supports: 8555, 8580, 8600
Resistances: 8480, 8450, 8430

2 comments:

  1. SBIN also went bit near to your 1st target..... good call....

    ReplyDelete
  2. Thnak you Mr.agustuss for ur appreciation.

    ReplyDelete