19 August 2014

NIFTY OUTLOOK FOR WEDNESDAY 20-AUG-2014

"Buy Ibrealest 80 Call @ 0.90 Tgt 1.50/2.30"
Today nifty made new high of 7900, but there was not any major movement in the market. Nifty was oscillating near 7904-7918 levels throughout the day.The Nifty index also rose 44 points to touch its fresh record high of 7918. Nifty index came under some bit of selling pressure and closed below its crucial psychological level of 7900. Today nifty future started at 7896 made high of 7923 and low of 7888 and closed at 7907 total 35 points was moved by nifty future throughout the day.
As we have mentioned in our last post  that Nifty will witness the level 7950 very soon, we are continue with our view that nifty will witness the level 7950 very soon . Bulls are in action will make the index cross the level of 7950-7965.  if nifty sustains this level we would see nifty at new high of the level 8000 very soon. The level of 7850 would prove to be major support for it....
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RESISTANCE: 7890, 7920, 7950
SUPPORT:  7860, 7830, 7800

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