Monday, July 9, 2012

Nifty Outlook for Today 9 July

The first day of this week started with negative note and Nifty is currently trading below 5300 level. The first hour of the session has witnessed a decline of nearly 25 points in nifty which makes it a dip of 0.50%.

Depreciation in rupee against dollar could be a major cause for this initial weakness in the market. The Asian Markets have also shown weakness in this hour of trade.

The market remained range bound last week and Today also it seems like extending this trend. However the weakness is more dominating so a deep red closing can not be ruled out.

Technically, Nifty is looking bearish below 5268 but a trade above 5350 can upthrust the market trend.  


Posted By Commodity MCX Tips