Pivot: 8277 S1: 8245 S2:8205 S3:8173
CHART INTERPRETATION
 |
| STOCK CASH TIPS |
CHART INTERPRETATION
- Nifty closed on at 8287.75 On Thursday. Next logical targets for nifty would be 8330-8400 and breaching of 8100 would force nifty to see levels of 7900. whereas the 8150-8200 will act as very strong Support levels, if once it go to 8300 then there will higher probability for nifty to touch 8350-8400 levels.
- Mechanical indicator stochastic RSI also showing consolidated trend.
INDEX OUTLOOK
NIFTY FUTURE: The Indian equity indices extend gains to fourth consecutive trading sessions. A strong recovery in the global equity markets and long build up in the realty, power and OMC stocks lifted Nifty to cross past the 8300 mark for first time in 2016 while, Sensex moved past the psychologically 27,000 level. Sentiment got some comfort after Parliamentary Affairs Minister Venkaiah Naidu stated that the government will seek to ensure that the bill on a pan-India goods and services tax (GST) will be passed in the upcoming session of parliament, scheduled from July 18 to August 12.
INTRADAY STRATIGY: Buy Nifty future above 8300 for the tgt of 8350-8400 sl 8230.
SECTORIAL INDICES
CORPORATE NEWS
- Uttam Galva Steel’s shares hit upper circuit of 20% today and went up by 13.27% as compared to previous closing price. The shares went up amidst reports stating the possibility of selling off the company to potential bidders. JSW Steel and Liberty House are interested in the purchase.
- The Indian Meteorological Department announced the arrival of Monsoon in the states of Punjab, Haryana & New Delhi. Shares of Fertilizer companies rallied on the news. Gujarat Narmada Valley, Fertilizers & Chemicals Travancore, & National Fertilizers were some of the prominent gainers.
- Shares of PVR and Inox went up by 3-3.8% after the cabinet gave its nod to the Model Shop & Establishment Act. The act would allow shops, movie halls, mall and offices to be open for all 24 hours. The bill will be further sent to states for approval.
0 comments:
Post a Comment