Nifty Performance:
Nifty 50 performed well for the day by making higher high in every
hour. The best phase is that the prices are sustaining above 8400 handle
as a gap up was marked on chart four days ago but we have a positive
feel for the Nifty as the Monsoon session (18
th July 2016) is
coming closer, a release for GST bill will be made and since Nifty is
forming bridge from Aug 2015 and high of 2016 we expect the index can
continue till 8600 to 8650 brick for tomorrow’s session.
A
news flash of RBI came in the market it just boosted the banking
sectors with the confidence of buyers RBI is about to give a liquidity
of Rs 80000 Crore as an aid by the end of June. Where RBI already
attained that target with more liquidity injection yet to follow through
open market operation. Sensex railed 10.37 % by this news.
Bank Nifty: Bank Nifty
is moving in a sharp up trend and made high of 18921 for the day and
closed in positive swing @ 18903 we expect the same up trend for
tomorrow till the handle of 19000 and 19130. Similar to the nifty it’s
the high of 2016 for banking sector as well. We have more confidence on
the PSU stocks regarding the returns of buyers.
Technical Outlook:
| Nifty Day Performance |
| Open | 8515 |
| High | 8571 |
| Low | 8500 |
| Close | 8565 |
| Top Gainers |
| Grasim | 4766 |
| Icici Bank | 268 |
| Maruti | 4422 |
| Zeel | 467 |
| Top Losers |
| Ongc | 230 |
| Infy | 1177 |
| Sunpharma | 768 |
| M&M | 1447 |
I found this post really very informative from trading point of view.would like to highlight few updates: The Nifty opened higher but ended the trading session at the low point of the day. More importantly, the Index has broken below the short-term support line. After today’s fall, it has confirmed the 5-wave upmove and we can see some meaningful correction in the near term. On the way up, the Index may find resistance at 8540 – 8595 levels. On the way down, it has support around 8470, below which it can drift down to 8440 – 8395. For details contact epic research.
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