10 September 2013

NIFTY OUTLOOK FOR TOMORROW

Buy LT 820 call @ 22 tg 29,41 sl 11
Sell Unitech future below 17 tg 15.90,14.50 sl 18.20
NIFTY OUTLOOK FOR TOMORROW
Index had a great start after a long weekend  , gap up  opening of nifty at 5738 . The forward march continued throughout the day even nifty manage to cross 5900 for a moment today. We are not too certain if it would sustain above the 5900 unless  the major resistance between 5840 and 5890. Thus, there is every chance of a corrective swing taking hold of the market after the initial euphoria....
We need to be vigilant about the range between 5710 through  5750 on the upside while on the downside after opening at higher levels initially the level of 5680 will give support 
Our view is that we might see a higher high today but we would see the Nifty settling for a lower close in all likelihood.


RESISTANCE:5730, 5790,5850

SUPPORT:     5740, 5680,5650



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