Market Outlook For 1st-Week-February
On Friday (30/01/15) Nifty closed at 8804. The market continued to add on to their initial gains in the beginning of the week but then due to profit booking nifty failed to cross 9000, which is a crucial psychological level and came down by 150 points.
Now Nifty will find strong support at 8800-750 range. If these levels get broken(closing basis) then there may be a further 70-100 point correction. Otherwise there may be a few days of consolidation around the levels of 8780-8850 before Nifty starts making new highs. Nifty may try to touch 9100-200 by Feb-end
Bank Nifty corrected over 1200 points from its previous highs after all major banks reported a bad set of number in their Q3 results. Major support for Bank Nifty is at 19700 below this there will be further 250-350 point correction or else we can expect bank nifty to start recovering. SBI results will be eyed and if SBI also reports poor sets of numbers then there may be a huge correction. After discounting the bad results of the banks, Bank Nifty May try to touch 20700-21200 or even higher ahead of budget.
For next week too Pharma sector looks very strong. After the rate-cut the real estate stock have started moving up. DLF and HDIL looks very strong
-Targets For 02-Feb-2015(Monday) is Posted Below
Now Nifty will find strong support at 8800-750 range. If these levels get broken(closing basis) then there may be a further 70-100 point correction. Otherwise there may be a few days of consolidation around the levels of 8780-8850 before Nifty starts making new highs. Nifty may try to touch 9100-200 by Feb-end
Bank Nifty corrected over 1200 points from its previous highs after all major banks reported a bad set of number in their Q3 results. Major support for Bank Nifty is at 19700 below this there will be further 250-350 point correction or else we can expect bank nifty to start recovering. SBI results will be eyed and if SBI also reports poor sets of numbers then there may be a huge correction. After discounting the bad results of the banks, Bank Nifty May try to touch 20700-21200 or even higher ahead of budget.
For next week too Pharma sector looks very strong. After the rate-cut the real estate stock have started moving up. DLF and HDIL looks very strong
-Targets For 02-Feb-2015(Monday) is Posted Below
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