21 April 2014

NIFTY ATTAINED RECORD CLOSING HIGH

CASH DELIVERY CALL : "Buy Exide ind. above 130 TG 148,162 SL 119"
NIFTY FUTURE OUTLOOK FOR TOMORROW
The market may remain volatile this week as traders roll over positions in the futures & options (F&O) segment from the near month April 2014 series to May 2014 series. The April 2014 F&O contracts expire on Wednesday, 23 April 2014. The stock market remains closed on Thursday, 24 April 2014, on account of Parliamentary elections in Mumbai constituency. Nifty was up 38 points  to 6,827, a record closing high for the index.....
The index hit a high of 6,849 in intraday trade, a lifetime high for the index. The index hit a low of 6,801 in intraday trade. Tomorrow, once we see the Nifty sustaining above 6820, we can expect it to test the important supply zone between 6850 and 6870—this happens to be the most critical levels for the day as well. Even if the index were to cross the upper boundary of the most critical supply zone levels, we do not expect it to take out the strong resistance zone between 6830 and 6850 range.
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RESISTANCE: 6,820, 6,850, 6,880
SUPPORT:  6,800, 6,780, 6,750

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