13 July 2017

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 14 JULY 2017

Nifty moved on our words
"YESTERDAY’S NIFTY 9800 CALL ROCKSSSS..!!! ACHIEVED ALL TGTS"
BANKNIFTY 23500 13 JUL CALL ROCKS BOOKED PROFIT @ CMP 340 CALL GIVEN @ 130
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Bulls continued to exercise tight control over bears as the market ended at fresh record closing highs on July 14, 2017. After a comparatively rangebound trading session on, markets roared back to stay strongly bullish. The Sensex ended above the 32,000-mark for the first time ever and the  Nifty closed at a new peak of 9892 as consumer inflation rate eased to its lowest in five years, cementing hopes for a rate cut. Expectations of an interest rate cut by the Reserve Bank of India (RBI) next month have risen after latest data showed that retail inflation has eased to a record in June and factory output growth slowed sharply in May. Anything more than 25 basis points will put banks under pressure as credit growth is already low.
The Sensex settled at a new peak of 32037, up 232 points. The Sensex surpassed its previous record of 31804 touched yesterday. In past four days, the index gained almost 676 points. Similarly, the Nifty jumped 75 points to close at a fresh lifetime high of 9891, surpassing its record of 9816 hit yesterday. We expect a quiet start to the market and expect it to remain in a capped range. Some shorts got added on Friday and we expect the indices to see some consolidation. The 9935 and 9970 levels will act as resistance to any further rally. Supports should come in much lower at 9700 and 9650 levels.
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Resistance: 9900, 9935, 9970
Support: 9775, 9750, 9725

1 comment:

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