Indian Equity market lost early gains and closed flat due to the concerns of implementation of the landmark GST Bill. This Bill is expected to be a game changer for our economy and might also be challenging with the upcoming growth. Today, Bse Sensex closed up at 27,714 with the lead of 17 points and Nse Nifty gained 6 points before the closing and ended up at at 8,551. In BSE Sectors, both BSE Midcap and Small cap indices ended up with the 0.4% profit each. With having the 1436 advantages and 1264 declines on the BSE, the market ended strong positive. The GST regime is an evolution of unified market for the country and there are so many upcoming we haven’t explored yet. This GST regime will subsume all indirect central taxes, service tax, sales tax, including excise duty, value added tax, luxury tax and many mores.
According to this technical chart the Nifty market trend will be Bullish with having the strong supports at 8520 and 8470, while 8610 and 8660 will be the resistance level for tomorrow.
Intraday Tips for Tomorrow (Friday) : 5th August
BUY PRICOL ABOVE 122.50 TARGET 123.70, 124.90, 126.10 STOPLOSS 120.10
BUY INDIANB ABOVE 205 TARGET 207, 209, 211 STOPLOSS 201
SELL PATINTLOG BELOW 103 TARGET 102, 101, 100 STOPLOSS 105