Index weekly Update
Key Benchmark indices inches higher in the last week ended Friday,17 july 2015.Although Financials and Banking stocks were mostly down during the session but have gained during the last two trading days. Pharma, IT, Selective Auto Stock and Mid Cap stocks helps the market to continue the Northway direction.Sensex rose 801.91 pts or 2.89% to close at 28,463.31 and Nifty gained 249.30 pts or 2.98% to close at 8609.85 , highest closing since April 16,2015.Sentiments were foster after Greece granted another bailout pacakge by the parliament and clearence to composite FDI cap from cabinet . Strong rupee also aided the rise of the index.
On the global front,US market were mixed Dow ended at 18086 down 33.80 pts or -0.19% ,S&P 500at 2126.64 up 2.35 pts or 0.11% and NASDAQ closed higher at 5210 up 46.96 pts or +0.19% . European markets were cautious ahead of the German parliamentary vote on the Greek bailout. France's CAC, Germany's DAX and Britain's FTSE were mixed. Asian benchmarks barring Kospi closed highe, Shanghai Compositeposted gaines of 3.5 percent.
Last week Index manages to trade in green territory it will be intresting to watch if same momentum it can hold the coming week.Some selling pressure is expected at higher levels as of profit booking.However lower level can be taken as opportunity to add the further long position.
Nifty
CMP: 8609.85
RES 1 8625
RES 2 8655
SUP 1 8580
SUP 2 8550
Note: Levels mentioned are for Intraday .
