Week starting from Monday 23 Feb,2015 is going to be an event driven week for indian stock market since we are going to have the Budget from Modi Government and all the expectations, surprises & speculations of whats going to happen with regards to the policies or laws or rebates will come to an end after the whole budget is out and open before the market players and public.
Technical Update : Nifty Future has been facing stiff resistance at 7830 levels. As updated in previous nifty future report weekly view 7745 below bear’s got active and market cracked to 7611.25. Global weakness was one of the added reason’s for the steep fall on Fridays trading session in market. Going ahead in coming […]
Price action still suggest a buy in dips market as bulls come at every support with buying. No major correction has been seen this past week. Short term traders watch 7790 and 7745 levels. Bias for the week will remain positive once 7790 above market sustains. Bears will be active if nifty future close below 7745 .
Nifty Future breakout from a rising wedge and made lows of 7445 this past week and made the Intraday high of 7692 and closed the week at 7669.35. For week starting Monday 21 July 2014 Nifty Future Will face stiff Hurdle at 7710 once sustain this level expect a rally towards 7750 7800 in coming days. The support for market is at 7645 7615. The 50 day SMA is @ 7489