Wednesday, July 17, 2013

Technical View of Nifty on 18/07/2013

The BSE Sensex ended up 97.50 points or 0.49 percent to close at 19948.73, and the Nifty gained 18.05 points or 0.30 percent to finish at 5973.30 ,amid a volatile trading session, on the back of strong buying interest in FMCG majors Hindustan Unilever and ITC. Today FIIs sold 26.06 crores on cash market and DIIs sold 73.86 crores on cash market. Last three days they sold 610 Crores, no support from FIIs so investors must approach very cautiously and keep eye on federation chairman testimony tonight to get clue of QE 3 future. This will be trigger of opening tomorrow. Still market is in Bull region which is above 5950 but keep eye on global trends and rupee value. Currently Rupee trading at 59.4 versus USD. Tomorrow the first resistance of nifty is 6000. Avoid longs below 5910.

Intraday Resistance of nifty is 5979.08, 5999.81, 6026.33, 6062.86, 6089, 6106

Intraday Support of nifty is 5939.32, 5836.76, 5900.23, 5873.71, 5857, 5842


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