Cash Investment Call: BUY DALMIASUG Ent 162.00 Stop 158.00 Tgt 172.00
Monday, August 1, 2016
BANK NIFTY OUTLOOK
Bank Nifty slipped below previous session low and drifted down towards
18600 before closing slightly higher. The bias for the day remained weak.
Daily RSI is in bearish crossover and falling. The near term trend remained
weak. On the lower end support exists at 18500. A trend reversal may
happen above 18800
NIFTY OUTLOOK
Benchmark indices started a muted note and remained volatile
throughout the session. On the higher end price found resistance
around 8700 mark which attracted selling in the market. On the lower
end price found support around 8600. Whipsaws are visible in daily
RSI. Going forward Nifty may witness volatility; on the lower end it
may find support at 8600-8575. On the higher end resistances are
pegged at 8700-8720.
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