Nifty Market Report for August 25 to 29 - By Mr. Vivek Gupta – Director Research, CapitalVia Global Research Limited

Market begun the week with the opening on positive note & extended gain from the previous week, This green move was led by gain in banking, IT stocks and positive global markets. Nifty August Future hit all time of 7939.80 on the last day of week's trading, it closed at 7935.95.In near term market trend may be determined by the GDP numbers going to be declared next week. One should also be cautious ahead of expiry of derivative contracts.

Primary trend of the Nifty Future is bullish, overall health of the market was positive last week and is likely to remain same in near term, if Nifty August Future manages to sustain above the support level of 7860 then it may test the psychological resistance level of 8000 in upcoming trading sessions ; While on the other side breaching of this support can bring down Nifty August future till the levels of 7660.

Eveready Industries India Buy

The stock is trading in bullish trend, it is consolidating with the positive bias from the last few trading session and is managing to trade above its 50 and 200 days moving averages with the RSI of 66. It is likely to continue its major trend with the crossing of the resistance level of 97.25. Traders can expect the target of 102.50 & 106 in the stock for which stop loss should be kept at 92.

GRUH Finance BuyStock is trading near its yearly highs and is accumulating below the resistance level of 218. Also it is trading above its 50 and 200 days moving averages. One may initiate the long position in the stock with the crossing of the resistance level for the target of 229 & 239 .Stop loss for the stock is at 207.

Source : Equity Bulls

Keywords