India’s Best Intraday shares depict back from a ten month high on Tuesday and snapped 6 sessions of gains, as investors paused ahead of major central banks announcements this week, counting the minutes of the United State Federal Reserve meeting in June. The Bombay Stock Exchange Sensex closes at 27167 were drawn by 112 points or impel low by 0.41 percent. Nse Nifty Closes at 8336 were debited by 35 points or plant slide slider by 0.42 percent. The S&P BSE Midcap settling at 11917, down by 10 points or by 0.08 percent, while S&P BSE Small cap closes at 11993 down by 13 points, or 0.11 percent each on Intraday Stock Market Trading.
Sensex Major Resistance on Upside at 27345-27523-27701
Sensex Major Support on Downside at 27058-26949-26771
Trend Deciding Level at 27236
20 DSMA at 26756
40 DEMA at 26452
Short Term Trend: UP
Medium Term Trend: UP
Nifty Index Major Resistance on Upside at 8343-8349-8356
Nifty Index Major Support on Downside at 8325-8313-8307
Trend Deciding Level at 8331
20 DSMA at 8203
40 DEMA at 8105
Short Term Trend: UP
Medium Term Trend: UP
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Nifty Indices
On 04 July 2016: Foreign Institutional Investors (FII) Net Bought – INR 265.63 Crores and Domestic Institutional Investors (DII) Net Sold – INR 447.48 Crores.
The Nifty opens dull and ended the trading sitting on a negative message. After a sharp up move of the previous week, the Index has witnessed some profit booking today. However, the Nifty has closed around the support zone. If it sustains below 8336, a move toward 8295–8260 is possible. The Nifty has multiple supports in the zone of 8295–8260. Hence, any dips should be seen as a buying opportunity. Given that the Nifty has seen a sharp move, some correction or consolidation cannot be ruled out. On the way up, 8370–8440 levels will act as a hurdle.
Meanwhile, the Bank Nifty is trading in a trading channel and it has witnessed a trend line breakout at around 17850 levels. Given that it has seen a sharp run recently, some correction or consolidation cannot be ruled out. However, the trend is up and dips should be seen as a buying opportunity. Overall, the trend for the Nifty and the Bank Nifty is bullish.
We continue our positive standpoint on the Nifty. The short time target for the Nifty is 8530 as long as it is trading above 8150.
In the daily chart the index is trading above the Twenty-day moving averages (DMA) and the Forty-DMA, ie 8203 and 8105 respectively. The thrust indicator is trading in positive sort on the daily chart
In the hourly chart, Nifty is trading between the Twenty-hourly moving averages (HMA) and the Forty-HMA, ie 8356 and 8291 correspondingly, the hourly impetus indicator encompass turned negative.
The market duration was turned negative with 700 advances and 882 declines, Unchanged 72 Total Issue 1654 on the National Stock Exchange.
Nifty Future Major Resistance on Upside at 8376-8400-8424
Nifty Future Major Support on Downside is at 8335-8318-8294
Trend Deciding Level at 8359
Bank Nifty Major Resistance on Upside at 18145-18214-18284
Bank Nifty Major Support on Downside at 18021-17966-17897
Trend Deciding Level is at 18090
30 Days Simple Moving Averages @ 8191
50 Days Simple Moving Averages @ 8042
150 Days Moving Averages @ 7727
200 Days Simple Moving Averages @ 7794
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