Dalal Street Week Ahead | Stocks and Commodities

July 7, 2014
Time: 9 am

Dalal Street Week Ahead:

1. Nifty touched a low of 7531 and a high of 7758 last week.
2. We indicated that pre budget rally may come any time.
3. It started last wekk itself.
4. Nifty future is very close to 7800, our target for pre budget rally.
5. If there is good Railway budge and the momentum continues, Nifty future will reach 8000.
6. There will be a strong resistance at 8000.
7. Even long term investors will look to book partial profits at that level.
8. This week there are no important global news flow.
9. On Wednesday, FOMC meeting minutes will be released.
10. On Tuesday, Railway budget, on Thursday, UNion Budget, on Friday, Infy results and IIP data will decide the market trend.
11. We expect the Nifty to trade between 7600 and 8000 during this week.