Indian Stock Market direction: Buy or Sell | Nifty| Bank Nifty Future for next week.- Last Thursday after the Government's announcement of Oil Marketing Companies (OMC's) to bear the burden of fuel cut-price, the listed OMC's started falling and dragged the Nifty down. The negative sentiment in Nifty continued till Friday whereas Bank nifty was positive in the first half on Friday in the hope of RBI Monetary Policy. The last hope of bit revival of the market gone in vain when RBI announced repo rate unchanged.
Next week events:
July-Sept earnings season started, 26 companies including HUL, TCS results will be declared in the coming week. Rupee depreciation and rise in crude oil prices fears are already in the market any negative news from the company earnings can further drag the market into the negative zone.
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| The Stock Market direction for the week Buy or Sell Nifty levels |
Nifty Weekly Outlook
Primary Trend of Nifty Future: Corrective OHLC-(10931/11090/10292/10347.15)
Range Bound Trend: All up Moves Initiates Profit Booking (Sale) @ 10540 whereas all down moves Initiate Short Covering (Buy) @ 10050
If Nifty future moves above 10390 then you should Buy with 1st Target of 10690 during the day or any point during the week by Trailing the Stop Loss from 10045-10235-10350-10540-10725-10840 FOR the Target of 10845-10997-11185
If Nifty future moves below 10200 then you should Sell with 1st Target of 9895 during the day or any point during the week by Trailing the Stop Loss from 10550-10355-10250-10050-9860-9750 FOR the Target of 9750-9890-9400
Bank Nifty Future Weekly Outlook
Primary Trend of Bank Nifty Future: Corrective OHLC-(25085/25577/24272.40/24519.7)
If Bank Nifty future share price moves above 24520 then you should Buy with 1st Target of 25010 during the day or any point during the week by Trailing the Stop Loss from 23960-24260-24450-24750-25070-25260 FOR the Target of 25955-26155-26400
If Bank Nifty future share price moves below 24210 then you should Sell with 1st Target of 23715 during the day or at any point during the week by Trailing the Stop Loss from 24770-24470-24275-23975-23675-23475 FOR the Target of 23470-23215-22910
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Finogyan Team
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