Today Nifty succesfully bounced above its strong support area of 24460. Friday Closing was not good but today nifty recovered from friday lows.
Today in second half we have seen some strength in Index Stocks , whereas Nifty Mid cap 100 and Small Cap 100 did not perform much positively.
On higher side the Index will face 24750 as resistance as of now and for starting fresh uptrend it needs to clear 25250 on daily closing basis.
As I mentioned in earlier posts , the Nifty 50 index is in highly oversold zones so there are possibilities of technical bounces . Because of buying on lower levels in index items , nifty bounced and closed near previous day high but failed to close above previous high by meagre 0.15 points.
This week is important for Global Markets because USA inflation data will be released this week and Trump and Putin meeting on 15 aug is finalised. The world market eyeing on this meeting .
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