Nifty bull trend may face crucial resistance at 8225.

NSE Nifty fifty index closed at 8114.30, after breaking the losing streak. Nifty made weekly low of 7916.40 and closed with the gain of 40.20 points on weekly basis. Nifty may continue its bull trend and try to test the crucial level of 8225 in the short term.

It will be a wait and watch strategy at the level of 8225.

Closing and holding above the level of 8225 it may show some more bullish trend to the level of 8275-8340.

Vice versa Nifty is trading below the 100 DMA and may find stiff resistance at 8225 level. Trading below this level it may continue to trade in south zone.

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For Monday, Nifty above the level of 8130 may continue the bull trend to the level of 8150-8185 and 8210. Nifty hold decent support at 8080 below which it may show more correction to the level of 8055-8030.

 

 

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Market Update

Nifty 8014, Nifty opened up with gap of 42.45 points at 8007.95, and shown some recovery on account of short covering, currently nifty have major resistance at 8060 above which nifty may shown some more bull trend till 8090-8120. Nifty has intraday support at 7980-7935.
Metals stocks are shining on high commodity prices, banks and IT are giving good support for short term uptrend.

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Is going for fixed deposit with the current interest rate will be the right decision?

Demonetisation leads to higher bank deposit that may put pressure on bank to reduce the interest rate very soon. The higher the deposit amount higher will be the outflow of banks in the form of interest payable to depositor.  Looking at the scenario the loan ratio will be comparably low with respect to deposits in this quarter. This situation seems to continue or not in the last quarter will depend on the key reforms taken by government in the budget 2017.

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Demonetization has also reduced liquidity from the market, Further action from the government against Black Money may tightened it more in the coming time. Time ahead the banks will be with full of cash and lower liquidity in the market may put pressure on the RBI to go for monetary measure to control the situation. So we expect some 50-100 Basis points cut in interest rate in around 1 year from here.

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