How will the coming week shape up for the Indian markets? #WeeklyStrategy from #BonanzaResearch Desk. Global rating agency Standard & Poors (S&P) has upgraded Indias credit outlook to stable from negative and some recovery was seen from lower levels on Friday. Bulls are trying to enter from lower levels. Recovery may be continuing above 7975 levels else selling pressure may resume. On upside, Nifty has resistance at 8050 levels. On downside, Nifty has important support at 7875 levels. Traders can take delivery based long positions in good stocks with stoploss levels. For trading during the coming sessions, trend deciding level is 7975. If Nifty shows strength above 7975 levels then we may see rally till 8050/8125/8200/8300. If Nifty doesn’t maintain above 7975 levels then selling pressure till 7875/7800/7725 also be seen.
Posted on: Mon, 29 Sep 2014 04:05:45 +0000