Wednesday, July 23, 2014

GLOBAL CUES AND NET BUYING BY DIIs / FIIs MAY TAKE NIFTY TO ALL TIME HIGH

NIFTY is just 42 points away from surpassing the all time high level. Global cues and net buying by both DIIs and FIIs may take NIFTY beyond its previous high. Bank NIFTY was subdued yesterday after Axis Bank's results were announced. In today's rally they may bounce back. Auto, FMCG and cement stocks are also expected to gather momentum. F&O expiry is just 6 trading days away.  Short covering of positions in some speculative counters may add fuel to the indices fire. 

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