REPORT

NIFTY REPORT FOR FIRST WEEK OF JULY

FACTORS WHICH MAY HAVE AN IMPACT ON MARKET THIS WEEK:
• Greece rejects bailout, With 97% vote counted , 61% voted NO.
 www.foxnews.com/world/2015/07/05/greece-enters-uncharted-territory-after- referendum-no-vote/
• First quarter earnings of IT major TCS.
• Index of Industrial Production (IIP) data for the month of May is due on Friday.
• Progress of monsoon would guide market. Meteorological Department predicted deficient rainfall in July, Skymet , a private weather agency, last week stuck to its forecast of “normal” monsoon in the month.
• Quarterly earnings as Tata Consultancy Services will announce its Q1 results on Thursday.
• Investment trend by foreign investors and movement of rupee against dollar would also influence trading.
• In the past week, the benchmark BSE Sensex rose by 280.95 points to 28,092.79.


TECHNICAL VIEW:
• Nifty is in a very important zone of resistance 8480-8520. If maintains above this we can see rally upto 8800 .But if faces resistance we can see 8380 .below this 8260-7940 Positive patterns are formed in charts a break from these resistance levels will make those patterns active . Break down from these levels will show below support levels 8380..8260
• Bank nifty is in a positive zone every dip can be a buying opportunity with SL 17780 buying zone 18490 - 18150