TheMARKET
closed the week lower amid concerns about logjam in the monsoon session of Parliament owing to stiff opposition by the political parties led by Congress over resignations of several ministers allegedly involved in various controversies. The Sensex closed the week at 28112 losing over 350 points or 1.23% while the Nifty ended at 8521 down by 88 points as investors indulged in profit taking on weak sentiment. The market this week may remain volatile as July 2015 F & O derivative series expires this Thursday. The market will be keenly watching next batch of quarterly results namely Maruti, Dr. Reddy, HDFC, L&T, ITC among others which may set the market trend. Readers are advised toTRADE with caution.
closed the week lower amid concerns about logjam in the monsoon session of Parliament owing to stiff opposition by the political parties led by Congress over resignations of several ministers allegedly involved in various controversies. The Sensex closed the week at 28112 losing over 350 points or 1.23% while the Nifty ended at 8521 down by 88 points as investors indulged in profit taking on weak sentiment. The market this week may remain volatile as July 2015 F & O derivative series expires this Thursday. The market will be keenly watching next batch of quarterly results namely Maruti, Dr. Reddy, HDFC, L&T, ITC among others which may set the market trend. Readers are advised toTRADE with caution.
NIFTY FUTURE (Last close 8534.35)
The counter closed the week losing 90 points or over 1% amid high volatility and intra week swing of 176 points. The counter this week may remain volatile as July’15 F&O series expires this Thursday and may remain in the range of 8446-8622, break above it may move up to 8658/8689 or else break below it may slide to 8391/8377. For today’sTRADING the counter to gain strength needs to trade and remain above 8555.75 whereby it may move up to 8574/8588. Strong support for the counter exists at 8519.25 which if breached decisively with volumes then it may slide to 8498/8473.
The counter closed the week losing 90 points or over 1% amid high volatility and intra week swing of 176 points. The counter this week may remain volatile as July’15 F&O series expires this Thursday and may remain in the range of 8446-8622, break above it may move up to 8658/8689 or else break below it may slide to 8391/8377. For today’sTRADING
the counter to gain strength needs to trade and remain above 8555.75 whereby it may move up to 8574/8588. Strong support for the counter exists at 8519.25 which if breached decisively with volumes then it may slide to 8498/8473.
BANK NIFTY FUTURE (Last close 18675.95)
The counter closed the week losing a whopping 472 points amid high volatility and intra week swing of 544 points. The counter this week may remain in the range of 18508-18853, break above it may move up to 18927/18988 or else break below it may slide to 18419/18326. For today’s trading the counter to gain strength needs to trade and remain above 18719.75 whereby it may move up to 18761/18819. Strong support for the counter exists at 18632.25 which if breached decisively with volumes then it may slide to 18587/18540.
The counter closed the week losing a whopping 472 points amid high volatility and intra week swing of 544 points. The counter this week may remain in the range of 18508-18853, break above it may move up to 18927/18988 or else break below it may slide to 18419/18326. For today’s trading the counter to gain strength needs to trade and remain above 18719.75 whereby it may move up to 18761/18819. Strong support for the counter exists at 18632.25 which if breached decisively with volumes then it may slide to 18587/18540.
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