5 July 2016

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 7 JULY 2016

“SELL NIFTY JULY FUT BELOW 8330 TGT 8250-8170  SL 8400”

Market indices snapped six-day winning streak today, as data showing deceleration in growth in India's services sector in June 2016 and weakness in global stocks weighed on sentiment on the domestic bourses. Sensex snapped six-day winning streak while  Nifty closed below its crucial psychological level of 8350 as investors booked profits in auto, IT power and oil & gas stocks. The Sensex ended with a loss of 112 points at 27167. The Sensex opened at 27341 touched an intra-day high of 27349 and low of 27127. The Nifty closed with a loss of 35 points at 8336. The Nifty opened at 8379 hitting a high of 8381 and low of 8320.
Next logical target for Nifty would be 8300-8250 and breaching levels of 8200 would force Nifty to see levels of 8100. Whereas the 8400-8450 will act as very strong resistance levels, if once it go to 8470 then there will higher probability for Nifty to touch 8500-8550 levels.
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RESISTANCE: 8400, 8450, 8500
SUPPORT:  8350, 8300, 8250
TOMORROW MARKET WILL BE CLOSED DUE TO EID 

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