Sunday, 3 July 2016

India nifty :will move to 8730 , a small correction after it, before hitting strong resistance 9080. After brexit strong consolidation happened. however 8328 is 0.0140 overshot of 8280. That indicates buying hesitation on the large side.

7th pay commission, Monsoon, GST Bill pass , earnings improvement, strong rupee  are the five factors for the Nifty to scale the last high 9100, out of five, 7th pay commission recommendation  accepted by Govt and will be implemented , RBI strongly monitors and whenever required sells $ to stabilize the currency Rupee and it is clear, will be around 67.50 - 67.80 and less and only three more pending and they will be executed and known by August / September.

Expect  a small correction around 8730 before hitting 9080.
Will exit full portfolio @ 9080.

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