Nifty Update for Wednesday 29th July, 2015

Nifty future outlook for Wednesday 29th July, 2015: The overall trend in Nifty future stands negative with the trend deciding point comes at 8441 mark. Hence as long as price sustains below the trend deciding point the intraday bias likely to stay negative. The immediate support zone comes around 8315-8325, if the initial supply pressure is not strong, 

then price likely to rebound from this zone. Traders may initiate long if price comes around this zone with stoploss placed below 8287. The pivot point for the day stands at 8368, if price sustains this level, intraday momentum likely to take price towards 8400-8420 during the day. Since the trend deciding mark comes at 8441, any price move towards the trend deciding level likely to face some initial supply. Traders may exploit a short opportunity, if price moves towards 8420 with stoploss placed above the trend deciding mark. In case price sustains the trend deciding level, further positive intraday momentum likely to take price towards 8480-8500 during the day.

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Karan Luhana   Equity Expert, R K Broking

Phone: +919510466777 Office: +917940044321 Mobile: +919558889900 Email: karan.luhana@gmail.com Website: www.bmawc.com Address: # 9 Vraj Complex, Opp Ashok nagar, Prernatirth Derasar road, Satellite, Ahmedabad - 380015, Gujarat, India Facebook: www.facebook.com/KRiskmanagement Whatsapp: +917878494848 Blog: www.goal20percent.blogspot.com

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