Nifty View - DENIP Consultants - July View - Dewang K Mehta

Dear All,

In continuation with our view on the Nifty where we did mention a possibility of a break out and we do seem to be in place now with the S&P CNX Nifty closing at 5728 levels. We believe that we should see at least 2 – 3 sessions in the green on the Nifty before we witness a pullback.

For now we should face resistance on the Nifty at the 5740 /5750 level and a close above that should take us to 5800 levels. However we do not rule out a pull back from the 5740 / 50 levels which could happen as early as Friday.

Please click on the image for an enlarged view.

Thanks,

Dewang K Mehta

DENIP Consultants Pvt. Ltd.

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