20 August 2014

NIFTY OUTLOOK FOR THURSDAY 21-AUGUST-2014

Today market was completely direction less. After making new high of level 7900 today market slipped into the red. At the time of closing market touched 7882, which was below from its crucial and psychological level of 7900.Nifty neither move upside nor towards down side, just oscillating near the levels of 7885-7915 … today nifty future started at 7909 made a high of 7915 and low of 7881, and closed at 7882, total 34 points nifty future moved throughout the day.. 
For tomorrow we are expecting some good movement from the market We need to watch out for the levels between 7930 - 7920 to begin with on the upside if the Nifty manages to stay above this range we would see it moving up further. In that case, the next range to monitor would be between 7940 and 7960—this is formidable resistance zone once crossed firmly would see the Nifty scaling up to the zone between 7965 and 7980 and beyond that 8000. Level 7850 will be proved as very good supporting level for nifty, .If once it go to 7850 then there will higher probability for nifty to touch 7800-7700 level once again.
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RESISTANCE: 7890, 7920, 7950
SUPPORT:  7860, 7830, 7800

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