Market Outlook for 19 July 2016
Having witnessed profit booking in second half of yesterday’s trading session, Nifty may open flat to positive and may head lower during the day. SGX Nifty was trading 23 points up at 8542 at 8:28 a.m. Most Asian markets are trading slightly lower with Hang Seng down 0.5%, Kospi down 0.4% and NIkkei up 0.47%.
We advise traders to initiate fresh longs only above 8600 levels. On the downside Nifty may test 8460/8380 in coming sessions.
F&O Recommendations :
SHORT BANKNIFTY BELOW 19000 SL 19180 TARGET 18600