Nifty Trading Trend for 28th August,2014 An exclusive report by Sharetipsinfo.com
Stock Market Outlook on 28th August 2014 (Today is expiry, volatility expected in the market.)
FII & DIIs Activity
FIIs bought Rs 302 cr in cash while DIIs were net seller to the tune of Rs 184 cr on Wednesday.
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Stock Market on 28th August 2014
US Stock closed on mixed note on Wednesday, NASDAQ closed 0.02% down while Dow closed 0.10% up and S&P closed 0.01% up. Europe closed on mixed note, DAX closed 0.19% down, CAC closed 0.04% up and FTSE closed 0.12% up. SGX Nifty trading positive, 16 point up at 8 AM.
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Technical
The day of August series settlement in derivatives! The range-bound movement that carried on for the last seven trading sessions might show some resolution or else it could well be the last day of the this choppy price movement. The probability, however, is still on the bulls’ side. It can well show a breakout on the upside if the Nifty were not to fall below 7919 through 7906 range.
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Technical On the upside, it needs to get past 7950 decisively to move higher else it will again go down to levels around 7900-level to consolidate. Major Support: 7900-7920 Major Resistance: 7970 – 8010
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Fundamental Pick/ Technical Call
Fundamental Pick of the Day:
Buy Kopran Target Rs 75 Technical Pick of the Day: Buy Colgate SL 1515, Target 1600 Buy IPCA Lab SL 743, Target 770
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