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Daily Nifty News Letter/Nifty Outlook

We saw a good buying in Nifty future in the first half of the session. But later things turned in opposite side and a sharp fall of 74 points was marked in last two hours. Since we are just two days away from the expiry of the July future contract so we expect this correction to be continued and looking the chart we can say this dip can go till 8520 where on upper side 8650 is a good break out.

building

Bank Nifty:  

Bank Nifty took a little correction today and closed red on chart. We can feel a strong resistance at the handle of 19050. Index is getting a hard hit on the price of 19050. This resistance is like a hard top to get broken in July contract. We are expecting this correction to be  continued till month of July and a fresh upside can be seen in the Aug contract. For tomorrow 18450 will be major support and 19050 as a resistance

 

Nifty Trends
   R1 8650
R2 8690
S1 8550
S2 8500

 

Technical Outlook:

Nifty Day Performance
   Open 8,602.10
High 8,652.05
Low 8,576.55
Close 8592.85

 

Top Gainers
AXIS BANK 552
POWER GRID 172.70
YES BANK 1199
TATA STEEL 367

 

Top Losers
DRREDDY 3304
ICIC BANK 261
HINDALCO 131.65
HERO MOTO CO 3201

About Starindiamarket

Star India Market Research - SEBI Registered Investment advisory Company In India. Our experts provides trading recommendations in Stock, Commodity and Currency Market.

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