NIFTY FUTURE OUTLOOK FOR MONDAY 28-JULY-2014

Today a downfall was witnessed in the market. Recording the first drop in nine sessions, the Sensex today ended 145 points lower at 26,126 after selling pressure emerged in blue-chips as investors judged recent gains as excessive. The Nifty today after hitting an intra-day record high of 7,840 in the opening trade, slipped below the 7,800 level as selling pressure was witnessed. The Nifty had gained 376 points, in previous eight sessions. The Nifty in early trade hit record 7,840 but ended below the key 7,800 level to close at 7,790, down 40 points. Opened at 7820 made a high of 7832 and low of 7751, total 81 points was moved by nifty future, But the fall was only for 5 trading days while the current uptrend is already 8 sessions old. Hence, we would like to reiterate that we are in a bull market and nothing would damage the sentiment for the bullish sentiment so long as 7680 is not taken out in the upcoming session.