Bulls Celebration Likely to Continue: Market Set Up Buoyant: Stay Alert!!

Date: 06-08-2018

nifty outlook
On Friday: The Nifty opened Gap Up as expected and closed at 10360.80 a new life time closing high ever. The index rebounded sharply and managed to hold its grip after two consecutive sessions of profit booking. Buy on dips helped the bulls to pull the Index up and end the session at Intraday high levels. GDP growth expectations, Monsoon, GST tax reduction, Interest rate are the reasons for celebration at D-Street. Market trend will remain intact till it holds above 11185. The Index may fly high further and there is no sign of trend reversal in the near term, but also keep in mind that correction is overdue and the index looks stretched. On the Global Front, Stock Markets are facing turbulence and ended mixed amid Trade war concern and GeoPolitical Issues. At the current situation, Select Sectors and Invest in Quality Stocks will keep you safe.

Today: The Market is likely to Start the Day on a Flat to Positive Note and profit booking at a higher level can not ruled out. We see the downside support exist in case of consolidation and dips at 11250-11190-11170 levels whereas, it may extend towards 10390-10410.

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