Nifty Forecast for Today


Posted June 27, 2016 by Starindiamarket

Nifty Performance: For the course of day nifty played smartly by absorbing the impact of BRexit and the breakdown of the global market. At the time of opening Nifty played in a gap down position.

 
Nifty Performance: For the course of day nifty played smartly by absorbing the impact of BRexit and the breakdown of the global market. At the time of opening Nifty played in a gap down position. Where the trades were losing the confidence to make any position as nifty and sensex were looking the falling knife and no one want to catch that falling knife. Not only any specific sector or any specific index was falling. The fall was noticed in every sector and in the entire index.
Nifty gap down by 241 Points from the last closing where the down side was continue for almost half of the day, Then in the second half we could see that it was the buyers day nifty was pulled by the buyers and sellers were badly dominated by the buyers.
Where the global market is cut down badly and there was no sign of recovery in DOW, NASDAQ, CAC, DAX or neither in FTSE. All were down by 4% to 9% for the day. On other hand Indians showed confidence in the words of Governor Mr. Rahuram Rajan that:
“We have three line of Defence: The First is Good Fundamentals. The Second is, The fact that we have limited short term liabilities. And the third is our forex reserves position.” And the positive moves were seen in the market.
Forecast: We expect the market to recover this gap in coming one to two trading session as we have recover have of the path at the same day and a rough line of 8250 can be seen in couple of days. Where the coming days can be tough for the companies like Tata Motors, HCL, Tech Mahindra. Etc who have business in Euro zone and also in Britain.
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Last Updated June 27, 2016