As on 1st July 2014 Sun & Mercury in Gemini, Jupiter & Moon in Cancer, Mars in Virgo, Rahu & Saturn in Libra, Ketu in Aries and Venus in Taurus. Planetary transits in July: 17th Sun -> Cancer, 12th Rahu -> Virgo & Ketu -> Pisces, 13th Venus -> Gemini, 14th Mars -> Libra and 28th Mercury -> Cancer. As there are many important changes from 12th to 17th July, Nifty may be highly volatile and may reverse its direction.
The planetary positions given above are at the time of Sunrise in India(Kerala) and conjunction effects on markets may be seen in countries (Asia / Europe / US) over which conjunction(0°)take places. As per above, Nifty may move downwards on 24th. When the angle difference between Moon and the planet is more than 5 degrees or conjunction occurs in Rasis(constellations) other than the Sun's Rasi, there may be a delay up to 24 hours in the conjuntion effect according to their positions.