Buy ITC future above 309 tg
311.40,313.90 sl 307.50
Sell ONGC future below 256 t
253.20,251.40 sl 258.20
NIFTY OUTLOOK FOR TOMORROW
Nifty started on the positive note but
could not sustain the level of 5900 today. Markets remained lack lustre as investors chose to
stay on the sidelines despite better-than-expected October IIP number and news of an agreement between
government and Opposition on the crucial Banking. It suggests that the short
term uptrend might well have been terminated a corrective downswing will
continue .....
The crucial levels to monitor would be between 5903 and 5895 once
this support gets violated the selling pressure would increase and the market
may start sliding again. On the upside, failure to breach 5920 firmly would
also invite quite a bit of selling. Only The nature of the market could well
become volatile and large range-bound where the range may not get so easily
defined .In case, you see the Nifty sliding down below 5895 then the
next support would be at 5880 and then at 5865 only. Once you see a close below
5835, you get the confirmation of the termination of the short term uptrend.
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RESISTANCE:5900 5920, 5960
SUPPORT :5890, 5860,
5830
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