Nifty bounced back from 8220 level. Next strong support level for nifty is 8099-8080. As far as this level is intact trend remain bullish.
If this support breaks then nifty may go down to 7950/7830 even 7600 level may seen
Technical bounce back on nifty is on card for next week. 8310-8330 may pose stiff resistance for nifty in near term.
This is the time for buying selective value stocks. Banknifty may go up to 18450/18600 levels. Some kind of short covering may there next week. But for now global scenario is negative. Due to stability in US market there are rumours that Fed rate hike may postpond to December.
But indian industrial atmosphare is also good for market. There is pressure on RBI for rate cuts. But commercial banks also had to react equally to the proposal. Cipla, HCL tech, OFSS, PNB are good for next week buying.
If this support breaks then nifty may go down to 7950/7830 even 7600 level may seen
Technical bounce back on nifty is on card for next week. 8310-8330 may pose stiff resistance for nifty in near term.
This is the time for buying selective value stocks. Banknifty may go up to 18450/18600 levels. Some kind of short covering may there next week. But for now global scenario is negative. Due to stability in US market there are rumours that Fed rate hike may postpond to December.
But indian industrial atmosphare is also good for market. There is pressure on RBI for rate cuts. But commercial banks also had to react equally to the proposal. Cipla, HCL tech, OFSS, PNB are good for next week buying.
