NIFTY OUTLOOK & FREE NIFTY TIPS FOR 19 JULY 2017

Market ended the session on a weaker note, with the Nifty closing below 9900-mark.

After last week bullish run a correction has been witnessed in the markets today.  Market ended the session on a weaker note, with the Nifty closing below 9850-level. The Sensex reversed course after staying above the 32,000 level in the last three sessions. The Sensex closed down 363 points at 31710, while the Nifty ended 87 points down at 9829. Sentiment was hurt after the GST Council raised the tax on cigarettes to take away an estimated Rs 5000 crore annual "windfall" manufacturers could have reaped from lower GST rates. The market was also pulled down by negative European and mixed Asian peers as setbacks for a health care overhaul in the US raised doubts over prospects for a range of reforms backed by President Donald Trump.

Pullback rally is expected in tomorrow’s sessions. Tomorrow, a decline below 9830 is expected and also suggested to sell Nifty future if conditions matched for same targets below 9800. Going forward, the immediate support for the Nifty is placed at 9780 and 9750 levels. On the flipside, resistance is seen at 9910 and 9930 levels, but the major hurdle is in the 9950-9975 region and till such time that this region is taken out, any rally may be considered as a pull back or of corrective in nature.

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Resistance: 9925, 9950, 9975

Support: 9830, 9800, 9775