20 July 2016

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 21 JULY 2016

"BUY NIFTY ABOVE 8562 TGT 8595/8630 SL 8520"
Market has ended in positive terrain on Wednesday, robust progress in monsoon influenced trading sentiment. The Sensex ended with a gain of 128 points at 27916. The Sensex opened at 27776 touched an intra-day high of 27935 and low of 27760. The Nifty closed with a gain of 37 points at 8566. The Nifty opened at 8515 hitting a high of 8570 and low of 8512.
It's a wait-and-watch scenario; the focus is on results and GST bill, Nifty has managed to close above the 8560 level but the movement was only of 58 points. So for any uptrend 8695 will be the resistance. For making new high nifty have to pass out 8600 resistance level after that 8630 & 8650 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.
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RESISTANCE: 8530, 8575, 8600
SUPPORT:  8500, 8475, 8450

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