Week Ahead (Aug 3 – Aug 7)

NSE has shown positive movements in past few weeks and the same trend might continue. As we all know that the Indian Market has been reacting to the global market more than 85%, this cannot be confirmed completely.

This week, NSE might move within the range of 4400 to 4700 levels. NSE has a Pivot Point at 4575 and might trade between the following Support and Resistance Levels.

Resistance 3	4979.48
Resistance 2	4824.62
Resistance 1	4730.53
Pivot Point	4575.67
Support 1	4481.58
Support 2	4326.72
Support 3	4232.63

 

Keeping an eye on the global markets, we need to check these levels on a daily basis. With this we will say good night and see you tomorrow on Market Outlook.

Weekly Round-up (Jul 27 – Jul 31)

This week was the Last week in the Result Season. BSE ended up with 1.9% gain touching to its highest level in the year 2009. NSE also followed the benchmark index, by gaining up to 1.5%. This gives a Strong Signal of possible trend reversal. Can we call this as a pre-bull market signal? We need to wait and see for any sort of confirmation for a long term trend.

Last week NSE opened at 4568.65 on Jul 27^th with a very flat tone, this was followed by some negative movements in NSE for the next 2 days. Then, NSE recovered on the Futures Expiry day and closed with a gain of about 58 points. Then came the big day, the last day of the month, where all the fund managers were busy completing their positions, the NSE rose to a whopping 64.85 points at the closing bell. The same story holds good for even BSE, with FMCG sector leading the rise in BSE.