19 September 2013

NIFTY OUTLOOK FOR TOMORROW

We have   seen  a huge gap up opening again today  going by the performance of the Asian peers and the SGX Sep Nifty up by a huge 176.50 points at 6112
We might see the Nifty opening above or around 6050-level. We need to watch for this level of 6050 for the Nifty quite closely once this is breached at the opening or soon after that the index needs to stay above this level for at least a couple of hours to signal a sustained bullish campaign....
If it does sustain above that the next supply zone that the bulls would have to negotiate with remains between 6070 and 6100 for the day. A close above 6120 would signal major strength and that beyond 6120 would be even better.
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RESISTANCE:6050, 6080,6120
SUPPORT:     6040, 5980,5950

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