22 July 2016


The market ended with smart recovery on Friday amid a volatile trading session. Sentiment got a fillip after reports stated that the Rajya Sabha will take up GST Bill for discussion next week.  For the most part of the day, the Sensex and Nifty traded in a rangebound fashion. The Sensex touched high of 27832 and low of 27646.  The Sensex ended with a gain of 93 points at 27803. The benchmark indices opened at 27722 touched an intra-day high of 27832 and low of 27646. The Nifty closed 31 points higher at 8541 points. It opened at 8520 points, hitting a high of 8549 and low of 8490. There is a concern which is now coming back into PSU banks, people are worried about their asset quality. That is why investors are getting cautious and booking profits there.
Next week will be the expiry of F &O july series. So volatility may continue in the next week also. But to sustain in the market bulls have to cross the hurdle of 8550monday if bears pulled nifty below the 8480 levels once again the level of 8400 going to be seen in the market.
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RESISTANCE: 8550, 8575, 8600
SUPPORT:  8480, 8450, 8400

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