Nifty to open gap down by 7 points at 10032: Dynamic Levels

By | August 3, 2017

Last week Nifty Index made fresh all time high of 10115 and closed above a psychological level of 10000. However this rally may not sustain if Nifty trades below 9944 (previous day low) and small cap trades below 7700 level. FII & PRO has created a short position in last 10 days for 213259 contracts.

 Bank Nifty gave breakout of its psychological level of 25000 and closed at 24811. Last week, nine banking stocks have announced their Q1 result out of which Yes Bank and HDFC Bank surprised market with rallying 7.59 percent and 2.5 percent after result announcement.

The Small Cap Index closed at 7803 after making low of 7701; the Index opened at 7783 and made a high of 7894.

Nifty to open gap down by 7 points at 10032 against Friday’s close of 10039 as per SGX Nifty.

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