11 July 2017

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 12 JULY 2017

Market closed on record high on second consecutive day despite erasing some gains in the evening session due to profit booking. The Sensex closed at 31747, up by 31 points while the broader Nifty gained 15 points to close at 9786. This was after both the indices recorded all-time highs multiple times during the day. Sensex settled for an all-time high of 31885 in intra-day trade. Nifty followed suit to register peak of 9830.
On the upside, the contract has significant resistances at 9850 and 9885 levels. A conclusive rally above the second resistance is needed to strengthen the bullish momentum and take the contract up to 9900 and 9950 in the same period. We expect the positive consolidation to continue in the markets. The 9855 and 9875 levels should act as immediate resistance for the Nifty, while supports come in at 9750 and 9700 levels. 
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Resistance: 9850, 9875, 9900
Support: 9750, 9725, 9700

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