25 July 2016

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 26 JULY 2016

BUY RELCAPITAL FUTURE ABOE 430 TG 437/444 SL 421
Putting a tepid week behind, bulls pushed market to a new peak supported by consistent inflows, and hopes of GST passage. The Sensex and Nifty advanced almost 1% amid sustained inflows from foreign funds on optimism over GST bill’s passage. Sensex closed 292 points up at 28095, while Nifty settled 94 points up at 8635. The Sensex ended with a gain of 292 points at 28095. The indices opened at 27754 touched an intra-day high of 28110 and low of 27736. The Nifty closed 94 points higher at 8636 points. It opened at 8520 points, hitting a high of 8641 and low of 8517. The Nifty closes above 8600 for first time since July 22, 2015.
Next logical target for Nifty would be 8655-8680 and breaching levels of 8695 would force Nifty to see levels of 8720. If bears pulled nifty below the 8550 levels once again the level of 8500 going to be seen in the market.
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RESISTANCE: 8650, 8675, 8700
SUPPORT:  8500, 8475, 8450

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