Infra Stock in Focus After Receiving Approval to Merge with Its Subsidiary
Nifty Sinks By 57 Points On An Apparent Hawkish Cut By RBI & Dragged By Banks On Concern Of Greater Transmissions/Lower NIM
Market Wrap: 02/08/2017 (17:00)
NSE-NF (Aug): 10081 (-57; -0.57%) (TTM PE: 25.52; Abv 2 SD of 25; Avg PE: 20; TTM EPS: 395; NS: 10081)
NSE-BNF (Aug): 25041 (-153; -0.81%) (TTM PE: 31.52; Abv 3 SD of 30; Avg PE: 20 TTM EPS: 795; BNS: 25055)
For 03/08/2017:
Key support for NF: 10065-9990
Key resistance for NF: 10155-10205
Key support for BNF: 24940-24740
Key resistance for BNF: 25275-25485
Hints for positional trading:
Time & Price action suggests that, NF has to sustain over 10205 area for further rally towards 10275-10325 & 10380-10455 in the short term (under bullish case scenario).
On the flip side, sustaining below 10185-10155 area, NF may fall towards 10065-10015/9990 & 9925-9855 area in the short term (under bear case scenario).
Similarly, BNF has to sustain over 25275 area for further rally towards 25485 -25695 & 25865-26030 area in the near term (under bullish case scenario).
On the flip side, sustaining below 25225-25150 area, BNF may fall towards 24990/940-24740 & 24625-24350 area in the near term (under bear case scenario).
Nifty Fut (Aug) today closed around 10081---(pls follow the link for more)


