Wednesday, August 13, 2014

NIFTY OUTLOOK FOR 14 & REVIEW

CLOSING HOUR CRUCIAL

Nifty                               7740     +13 
 
While Nifty closed in the positive, broader market was quite weak as Advance Decline ratio stood at  about 1:3.5.  Realty, PSU Bank stocks were the worst hit. While Nifty is bullish, Bank Nifty, a major component of Nifty is quite weak. Nifty spot is expected to encounter resistance at 7780, 7815 and find support at 7700, 7665 for Thursday.  While Global cues, Quarterly results   and  Funds flow  are expected to broadly guide the market movement, based on the present market position, market can be expected to  face zigzag movements with crucial closing session in view of the longer weekend.

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