NIFTY OUTLOOK & FREE NIFTY TIPS FOR 28 JULY 2017

"SELL HINDUNILVR FUTURE BELOW 1165 TGT 1155/1142 SL 1178"

"BUY SUZLON FUTURE ABOVE 20.20 TGT 20.50/20.90 SL 19.80"

Another record closing high of nifty & that too on expiry day, The Sensex was unchanged at 32383 while the Nifty Index remained unmoved at 10020. In first half, buoyancy in the banking and financial pack pushed the nifty & sensex higher but profit taking eliminated all the gains by the end. Meanwhile, traders were busy in rollover and unwinding of their derivatives positions.

The Sensex retreated from record high levels to close flat at 32383 due to selling in IT, pharma, oil and gas and technology stocks. During the day, the sensex rallied over 260 points to touch fresh high of 32642. The Nifty made lifetime high of 10114 in day trade today, but closed flat at 10020. The market breadth was firmly tilted in favour of the bears. Among the sector gauges, the Nifty Pharma led the decliners while a gauge of the country’s largest lenders clocked fresh lifetime high. Unless the Nifty closes below 9900, the uptrend very much remains intact. 9800 is a strong support for the Nifty whereas the index to march towards 10,200.

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Resistance: 10055, 10075, 10100

Support: 10000, 9975, 9950