The market closed the week with the Sensex at 25329 lower by 151 points while the Nifty ended at 7568 down by 34 points after recording losses on three of the five sessions amid mounting geopolitical worries over Iraq, Libya and Russia/Ukraine tension. The market witnessed further sell off during the later part of the week over U.S. authorization to target Iraq to halt the advance of ISIS. Meantime, market will be keenly watching the last batch of Q1 results and CPI/WPI data for July 2014 to be announced during the week. Readers are advised to trade with caution keeping stock specific approach.
NIFTY FUTURE (Last close 7591.65)
The counter closed the week losing marginally amid high volatility and intra week swing of over 225 points led by sell off in later part of the week. The counter this week may remain in the range of 7521-7682, break above it may move up to 7705/7749 or else break below it may slide to 7496/7467. For today’s trading the counter to gain strength needs to trade and remain above 7608.75 whereby it may move up to 7632/7648. Strong support for the counter exists at 7575.25 which if breached decisively with volumes then it may slide to 7557/7533.
The counter closed the week losing marginally amid high volatility and intra week swing of over 225 points led by sell off in later part of the week. The counter this week may remain in the range of 7521-7682, break above it may move up to 7705/7749 or else break below it may slide to 7496/7467. For today’s trading the counter to gain strength needs to trade and remain above 7608.75 whereby it may move up to 7632/7648. Strong support for the counter exists at 7575.25 which if breached decisively with volumes then it may slide to 7557/7533.
BANK NIFTY FUTURE (Last close 14819.70)
The counter closed the week losing a whopping 391 points amid high volatility and intra week swing of 666 points. The counter this week may remain in the range of 14613-15025, break above it may move up to 15102/15182, or else break below it may slide to 14554/14508. For today’s trading the counter to gain strength needs to trade and remain above 14868.75 whereby it may move up to 14902/14943. Strong support for the counter exists at 14769.25 which if breached decisively with volumes then it may slide to 14716/14674.
The counter closed the week losing a whopping 391 points amid high volatility and intra week swing of 666 points. The counter this week may remain in the range of 14613-15025, break above it may move up to 15102/15182, or else break below it may slide to 14554/14508. For today’s trading the counter to gain strength needs to trade and remain above 14868.75 whereby it may move up to 14902/14943. Strong support for the counter exists at 14769.25 which if breached decisively with volumes then it may slide to 14716/14674.
DR. REDDY’S LAB FUTURE (Last close 2786.05)
The pharma stock after consolidating during the past sessions closed the week gaining over 1% with moderate volumes. The stock appears positive on charts and may move up to 2798/2816 on volume trading. Strong support for the stock exists at 2775.00.
The pharma stock after consolidating during the past sessions closed the week gaining over 1% with moderate volumes. The stock appears positive on charts and may move up to 2798/2816 on volume trading. Strong support for the stock exists at 2775.00.
HERO MOTO FUTURE (Last close 2592.95)
The stock after consolidating during the past sessions closed the week with moderate volumes gaining about 2%. The stock appears positive on charts and may move up to 2603/2618 on volume trading. Strong support for the stock exists at 2581.25.
The stock after consolidating during the past sessions closed the week with moderate volumes gaining about 2%. The stock appears positive on charts and may move up to 2603/2618 on volume trading. Strong support for the stock exists at 2581.25.
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