Nifty Tomorrow – Indian Market Short Term up Move May Improve Market Sentiments

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(press release distribution) RBI said on Monday that inflation is higher which may push GDP in current fiscal year. RBI’s GDP estimate has pushed Nifty spot from the day’s high of 5145.65 to below 5100 mark and Nifty closed at 5098.35 which was very close to the day’s low of 5084.75

For Nifty tomorrow 5128.8 is looking to be a strong resistance if Nifty spot manages to hold above this level then Nifty is looking positive and intraday target for Nifty spot is 5153.8 attaining this trading target of Nifty tomorrow will also confirm fresh long position to enter Indian markets as Nifty above 5144 will support fresh buying support for intraday market as long as Nifty spot stays above 5144 but if Nifty tomorrow finds it difficult to cross and stay above 5128.8 it is likely to test technical support level of 5077.7 with next downside target can be 5042

Indian market short term outlook is slightly negative due to RBI current news on Indian GDP with market anticipation of another rate hike to control inflationary pressure. But on technical charts of Nifty, level 5128.8 will decide which way Indian markets are looking to march on, said Market pulse stock advisory on today’s Nifty closing

Some of their predictions on Indian stocks for short term performed as under

INFOSYS TECH – Bse code – 500209 – last close – 2722.7 – BUY – 2707.2 – SL – 2665.8 – for TG1 Rs. 2758.9 and for TG2 Rs. 2784 – stock opened at Rs. 2747 hit intraday high – 2773.8 stock was during trading up 1.8 % from previous close

BAJAJ AUTO – Bse code – 532977 – last close – 1640.5 – BUY – 1626.3 – SL – 1572 – for TG1 Rs. 1653.5 and for TG2 Rs. 1677.1 – stock opened at Rs. 1660 hit intraday high – 1702.8 stock was during trading up 3.7 % from previous close

AXIS BANK – Bse code – 532215 – last close – 1124.2 – BUY – 1112.3 – SL – 1078.1 – for TG1 Rs. 1146.6 and for TG2 Rs. 1163.7 – stock opened at Rs. 1158 hit intraday high – 1188.9 stock was during trading up 5.7 % from previous close

Contact Information:

Market pulse stock advisory
Website URL: http://www.takemyview.co.in
Phone Number: 8905558870

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