Market rose last week on expectations that the constitutional amendment bill on goods and services tax (GST) will be passed during the winter session of parliament. Trading was volatile during the week as the November 2015 contracts expired in the futures & options (F&O) segment on Thursday, 26 November 2015. The Sensex settled above the psychological 26,000 mark. The Sensex and the Nifty, both, settled at their highest level in three weeks. The Reserve Bank of India (RBI) will announce its fifth bi-monthly monetary policy decision at 11:00 IST on Tuesday, 1 December 2015. In macroeconomic data, the government will release India’s gross domestic product (GDP) data for Q2 September 2015 on Monday, 30 November 2015. India’s GDP grew 7% in Q1 June 2015 over Q1 June 2014.
Nifty Tips For Next Week
As the Nifty has ended this week with high bullish note, probably it will start the session with a buying note again on Monday. For weekly trend Nifty is looking bullish with a strong support zone at 7800 and 7600 level. While we are looking a resistance zone at 8000 to 8200 level. We suggest to buy Nifty on Dips as this week’s Nifty Tips.
Stock To Buy Tomorrow: BEL Future
Formation of descending triangke in BEL future on Daily chart shows that if breakout comes above 1295, It will further go upto the level if 1350-1400.
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