Market Outlook For 4th-Week-July
The markets closed @ 8521, 68 point lower. The earnings which were below expectation triggered profit booking in most of the large cap stocks. The Market finds good support around 8480 and strong resistance around 8640. The market is expected to consolidate with in this range and any move outside this range can take the market 2-3 lower or higher respectively
The Bank Nifty which held a positive momentum 2 weeks ago, started to fizzle out due to lack luster earnings of major private Banks. Bank Nifty will now find resistance around 18750 and next support near 18500 and the move outside this range can give an opportunity to initiate longs or shorts respectively.
For next week the Pharma looks very weak as weak guidelines were given by Sun Pharma and Lupin.
MindTree and Infosys have come out with stellar set of numbers and one can expect the results other peers to meet the estimates.
Stocks To Watch Out For:
Hero Motors (Abv 2750 Can Test 2835)
LIC Housing Fin (Abv 505 Can Test 520)
The Bank Nifty which held a positive momentum 2 weeks ago, started to fizzle out due to lack luster earnings of major private Banks. Bank Nifty will now find resistance around 18750 and next support near 18500 and the move outside this range can give an opportunity to initiate longs or shorts respectively.
For next week the Pharma looks very weak as weak guidelines were given by Sun Pharma and Lupin.
MindTree and Infosys have come out with stellar set of numbers and one can expect the results other peers to meet the estimates.
Stocks To Watch Out For:
Hero Motors (Abv 2750 Can Test 2835)
LIC Housing Fin (Abv 505 Can Test 520)
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