Friday, July 24, 2015

Market Update of 24/07/2015 and views ahead...


NIFTY SPOT, Today on 24/07/2015,
OPEN HIGH LOW CLOSE
8588.15 8589.15 8513.50 8521.55
As last 4 days had movement within specified range, it was likely to provide direction today, being week-end. Pre-Open levels provided direction downwards and completed all 3 targets, as it did yesterday also.
     HE    LE     CE   B/BD S/SR
M 8642 8136 8443  RST   X
W 8564 8334 8462  BPL   X
D 8617 8526 8562    X      S
H 8566 8540 8551   X     SS
Weekly suggested Book Profit in Long and Monthly suggested Resistance near 8640-650.
Daily-Hourly in Short mode with SL 8562-66.
Resistances now at 8540- (8562-66) - 8617 - 8642.
Supports at 8462 - 8443 - 8334.

BANK NIFTY SPOT, Today on 24/07/2015
OPEN HIGH LOW CLOSE
18832.45 18860.75 18613.55 18635.85
The whole week remained weak, with volatility both sides.
Took support exactly at 18613 as pointed yesterday.
Trend is bearish, with SL 18945-19000.
M 19125 17650 18517 BPL X
W 18945 18324 18663 RST X
D 19007 18714 18818 X S
H 18775 18695 18722 X SS
Upside resistances remain at 18695 - (18714-22) - 18775 -18818.
Supports are at 18517 - 18324.

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