NIFTY REVIEW

Nifty market opened on a negative note and continued its downward journey. But in the afternoon session, it took support at 7707 and recovered smartly. Finally after making a high of 7798 it ended at 7791 with a gain of 0.55%. The Advance Decline ratio was almost flat.

We maintain bearish view on Nifty with the target of 7680, which is 38.20% retracement level of its recent upmove from 7422 to 7840. If Nifty fell below 7680 then it can even test 7631, which is 50% retracement level. On the upside, 7800 mark will play as an immediate term resistance; however one should take fresh long position only above 7840.

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NIFTY TIPS

Nifty opened on a positive note and jumped above 7700 mark. It started making higher tops and higher bottoms on the intraday chart. Finally after making a high of 7773, it ended at 7767 with a gain of 1.09%. The Advance Decline ratio was almost flat. We maintain bullish view on Nifty and now we feel Nifty can break 7808 and can test 8025 in the short term. On the downside, for immediate term 7550 will play as an important support. However the trend will turn negative only if Nifty closes below 7440, thus any correction is a good buying opportunity with stop loss of 7440 on closing basis.

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NIFTY REVIEW

Nifty opened with an upside gap and jumped above 7700 mark. It made a high of 7722 but witnessed some profit booking and started making lower tops and lower bottoms on the intraday chart. It made a low of 7674 and ended at 7684 with a gain of 0.26%. The Advance Decline ratio was almost 3:2.

Nifty is trading above the 61.80% retracement level of its recent fall from 7808 to 7422 thus now it can test its recent high of 7808 in the coming days. On the downside, for immediate term 7550 will play as an important support. However the trend will turn negative only if Nifty closes below 7440, thus any correction is a good buying opportunity with stop loss of 7440 on closing basis.

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NIFTY LEVELS AND CHART TODAY

Nifty opened almost flat and entire day it was trading in a narrow range of 7620 to 7650. Finally it ended at 7640 with a gain of 0.21%. The Advance Decline ratio was almost 2:1. Nifty almost tested 61.80% retracement level of its recent fall from 7808 to 7422 and made a high of 7655. Now Nifty has resistance at 7661. On the downside, the trend will turn negative only if Nifty closes below 7440, thus any correction is a good buying opportunity in nifty with stop loss of 7440 on closing basis.

NIFTY LEVELS TODAY

SUPPORT 1	7616
SUPPORT 2	7593
RESISTANCE 1	7659
RESISTANCE 2	7679

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NIFTY MARKET REVIEW

Nifty opened positive and jumped above 7550 mark, it started trading in a narrow range of 7565 to 7540, but in the last hour of trade it broke this range upside and made a high of 7640, finally it ended at 7624 with a gain of 1.30%. The Advance Decline ratio was almost 3:1.

Nifty tested 50% retracement level of its recent fall from 7808 to 7422 and closed above that. Now we may see further recovery and it can test 7661, which is 61.80% retracement level. On the downside, the trend will turn negative only if Nifty closes below 7440, thus one can hold long positions and keep stop loss of 7440 on closing basis.

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NIFTY MARKET UPDATES

Nifty opened almost flat and entire day it was trading in a narrow range of 7420 to 7470 with low volumes. Finally it ended at 7454 with a loss of 0.07%. The Advance Decline ratio was almost 2:3.

Nifty made a low of 7422, but closed above the support of 7440. On the daily chart, oscillators are in the oversold zone. Now if Nifty sustains above 7475 then we may see a recovery and it can test 7569 and above that 7615, these are 38.20% and 50% retracement levels of its recent fall from 7808 to 7422. On the downside, the trend will turn negative only if Nifty closes below 7440.

NIFTY LEVELS TODAY

Support 1: 7424
Support 2: 7395
Resistance 1: 7481
Resistance 2: 7507

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Nifty Today: Watch Important Levels

Nifty opened positive but could not sustain above 7600 mark and after making a high of 7625, it fell sharply. In the afternoon session it fell below 7500 mark and made a low of 7447, finally it ended 7459 with a loss of 1.43%. The Advance Decline ratio was almost 1:6.

Now for short term Nifty has major support in the range of 7480 to 7440. The long positions can be held with stop-loss of 7440 on the closing basis. However, on the upside now 7800 – 7810 will play as an important resistance. Thus one should take fresh longs only above 7810.

NIFTY IMP. LEVELS FOR 14 JUL
Open: 7584
High: 7625
Low: 7447
Close: 7459
Support 1: 7395
Support 2: 7332
Resistance 1: 7574
Resistance 2: 7689

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NIFTY OVERVIEW

Nifty started the day on a negative note but took support at 7551 and bounced back sharply. It made a high of 7650, but it could not sustain on higher levels and closed at 7585 with a loss of 0.50%. The Advance Decline ratio was almost 1:4.

Yesterday, Nifty has taken support at an important trendline, so after two days correction we may see a bounce back. For short term Nifty has major support in the range of 7480 to 7440. Long positions can be held with stop-loss of 7440. However, on the upside now 7800 – 7810 will play as an important resistance. Thus one should take fresh longs only above 7810.

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Stock Market View

Nifty started the day on a positive note and tested 7800 mark but it could not sustain on higher levels and fell sharply. In the afternoon session, the selling pressure intensified as Nifty broke the support of 7720. It made a low of 7595 and ended at 7637 with a gain of 0.19%. The Advance Decline ratio was almost 1:6.

Nifty has already corrected 61.80% of its recent rally from 7481 to 7808. Now it has major support in the range of 7480 to 7440. Long positions can be held with stop-loss of 7440. However, on the upside now 7800 – 7810 will play as an important resistance. Thus one should take fresh longs only above 7810.

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NIFTY UPDATES

Nifty started the day on a flat note and in the afternoon session it witnessed some profit booking but it took support at 7661 and recovered smartly. In the last half an hour of trade it broke its intraday high of 7733 and made a high of 7758, finally it ended at 7751 with a gain of 0.48%. The Advance Decline ratio was almost 4:3.
Nifty witnessed good buying interest in the last two hours on Friday. Thus we maintain bullish view with our short term target of 8000 and we feel any correction in the markets will be a good buying opportunity. On the downside 7440 will play as an important support for short term.

NIFTY IMP. LEVELS FOR 07 JUL
Open : 7718
High : 7758
Low : 7661
Close : 7751
S 1 : 7689
S 2 : 7626
R 1 : 7785
R 2 : 7820

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