market Outlook 17 July 2016

market Outlook 17 July 2016

market Outlook 17 July 2016

Nifty has support around 8430 and resistance around 8600. Market looks overbought as per daily chart

and expected to correct by 120 points of nifty from this level. It is risky to short sell positional as it is

bullish as per weekly chart. It is like buy on decline.

Stocks to be traded in next week as per stop loss as follows..

Name of stock Action Stop loss target

Bajaj auto buy 2640 2800

Rel ind Buy 1000 1080

Motherson sumi Buy 280 320

Adani power Short sell 31 27….25

ALBANK Short sell 84 68

Gail Buy 380 420

Indusind bank Buy 1100 1200

Mind tree Short sell 660 600

Oil Buy 360 420

Oriental bank Short sell 128 110

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