12 July 2012 : Morning Market Updates
Infy results made market un-happy as Q1 Net Profit fell by 1.16% to 2289Crores (QoQ).The expected was 2448 crores.
Nifty Outlook : Technically, market is now in strong hands but as disclosed into previous blog, Nifty Fut. was trading in overbought zone and as expected we witnessed selling pressure on higher side. To hold long in Nifty fut., Nifty fut. should not close below 5270 otherwise downside upto 5170-5220 would be possible.
Immediate Support : 5270/5240
Immediate Resistance : 5310/5370
Major results ahead : TCS, HDFC Bank, Sterlite and Yesbank
Infy results made market un-happy as Q1 Net Profit fell by 1.16% to 2289Crores (QoQ).The expected was 2448 crores.
Nifty Outlook : Technically, market is now in strong hands but as disclosed into previous blog, Nifty Fut. was trading in overbought zone and as expected we witnessed selling pressure on higher side. To hold long in Nifty fut., Nifty fut. should not close below 5270 otherwise downside upto 5170-5220 would be possible.
Immediate Support : 5270/5240
Immediate Resistance : 5310/5370
Major results ahead : TCS, HDFC Bank, Sterlite and Yesbank
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