Sensex Nifty’s Record Breaking Update & Market Prediction For Next Week

market updateThe week starting 23rd July has been one of the greatest weeks in the year 2018 as Nifty future rose almost 300 points in a week after the breakout of consolidation from 2 weeks and this movement was on the charts and we have said about this in our last weekly report. The closing of both Bank Nifty and Nifty future suggests that bullish movement is not over yet and we may witness another week of bullish movement as Nifty future is already trading on all time high and Bank Nifty future is just short to make all time high and the way PSU banks is performing in last few days which may continue next week will take index to new heights. Some of the major result will be announce in next week is Axis Bank, HDFC, Idea Cellular, Ajanta Pharma, Bank of India, Tata motors, Raymond, Tech Mahindra, Apollo Tyre which may drive market next week.

nifty trendIf we talk about technical indicators there is neither a single indicator which suggests that market may take correction either in Nifty future or Bank Nifty future. On weekly chart, Both Bank Nifty future and Nifty future is looking positive for Next week. Nifty future is trading in no chart zone and also has register fresh breakout above all time high and the momentum of this week may continue next week to new heights. Next week Nifty future may rise above the level of 11315 and may achieve target of 11440-11520 with a stop loss of 11050. And Bank nifty future may rise above the level of 27660 and may achieve target of 27900-28200 with a stop loss of 27250.

Nifty & Bank Nifty’s Supports and Resistence

  • Nifty Resistance 11315 & Support 11070
  • Bank Nifty Resistance 27660 & Support 27300

Free Trading Tips for Monday

BUY GODREJ PROP ABOVE 694 TARGET 705-715 WITH SL 680
BUY AXIS BANK FUT ABOVE 556 TARGET 561-568 WITH SL 549.50

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