Friday, July 13, 2012

Nifty Today Review and Market Outlook for Next Week

Friday The 13th Turned out to be a bed day for Stock market and Indian benchmark indices could not hold the initial gains and remained consolidated for the day.

Nifty lost more than 1.5% during the week and closed below 5250 leve at 5227.50.

HDFC, ONGC, GAIL, TCS and BPCL were among the few gainers in Nifty while infosys  extended its losses again and slipped 1.65% today. It is looking in oversold position and if market supports, we can see a recovery in this stock in next week.

Nifty On the other hand is likely to remain in a range of 5200-5400. Crucial upside level for Monday will be 5255, a consistent trading above which may lead the market to close in green.
5100 is crucial support level below which a free fall is expected.


Posted By Commodity MCX Tips