Amazing Week Gone: Exciting Ahead!

Date: 31-07-2017

nifty outlook
On Friday: The Nifty closed almost flat at 10014.5. It opened below 10K and touched a low of 9945 in the Friday's intraday session. In the last leg of the trading, it recovered and managed to close above the 10K. The Market witnessed an amazing week, it reached on a new milestone of magical Five-Digit. Now this week is also going to be exciting as RBI monetary policy meeting is scheduled this week. Buoyancy will remain there with profit booking bouts. As We said Market is in positive zone as long as it holds 9920 levels and profit booking cannot be ruled out at this stage. In the current situation, You should adopt an extremly cautious approach and focus on protecting profit.

For Week: Logical Resistance for the Week lies in the zone of 10120 to 10300 while Support for the Week lies in the zone of 9820 to 9790.

For Today: The market is likely to open flattish today following mixed global cues. We see 9980-9950-9920 may act as a crucial support zone if there is any further correction in the market, whereas, the resistance is placed at 10036-10070 levels.
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