CHART INTERPRETATION
1. Nifty future closed above to psychological
support at 8350 on Tuesday. Next logical targets for nifty would be 8400-8450
and breaching of 8320 would force nifty to see levels of 8105-8200.whereas the
8350-8310 will act as very strong Support levels, if once it go to 8380 then
there will higher probability for nifty to touch 8400-8450 levels.
INDEX OUTLOOK
NIFTY
FUTURE: The Indian stock market ended
almost unchanged amid a lackluster day of trades. After enjoying a
mid-week break, indices were stuck in a narrow trading range on Thursday.
Benchmarks swung between gains and losses as worries over global economic
growth stagnation continued to weigh on investor sentiment. Indices did shoot
up for a brief while in late noon trades tracking firm gains in Europe however
it was short lived as selling pressure in the IT, telecom, capital goods and
auto stocks dragged the indices to close almost unchanged. On the other hand,
pharma, FMCG, power, realty and banking stocks were among the gainers.
INTRADAY
STRATIGY:
Buy Nifty future above
8350 for the tgt of 8400-8450 sl 8270.
SECTORIAL
INDICES
Key Indices – Levels
to watch out for the day
|
INDEX (Spot)
|
RESISTANCE
2
|
RESISTANCE
1
|
LTP
|
|
SUPPORT
1
|
SUPPORT
2
|
|
|
|
|
|
|
|
|
|
SENSEX
|
27520
|
27350
|
27201.49
|
|
27050
|
26860
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NIFTY
|
8440
|
8380
|
8337.90
|
|
8290
|
8240
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NIFTYBANK
|
18400
|
18230
|
18084.90
|
|
17980
|
17840
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NIFTYIT
|
11200
|
11050
|
10942.00
|
|
10840
|
10690
|
|
|
|
|
|
|
|
|
CORPORATE
NEWS
· 1. National Buildings
Construction Corporation (NBCC) – India’s
shares went up by 10.57% after the Union Cabinet approved the
redevelopment of seven colonies in Delhi for an order worth Rs. 32,835 Cr. The
redevelopment project is to be carried out by NBCC and CPWD.
· 2. Larsen & Toubro,
Hindustan Construction Company, J Kumar Infra projects and ITD Cementation won projects from the Mumbai
Metro Rail Corporation for the third phase of the metro network.
· 3..Shares of Bharat Forge
fell by 3.45% after the company reported a downfall in heavy truck orders from
North American region. The orders for the trucks stood at 13,100 for the month
of June, lowest since 2010.
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