4 September 2014

NIFTY FUTURE OUTLOOK FOR FRIDAY 05-SEP-2014

After making new highs from last nine consecutive session market was following divergent trend on Thursday due to profit booking by investors in bluechips after a nine-day strong rally. ...Friday market opened down side but at the end of the session Market tried to come again towards upward direction. Today market opened at 8125 made a high of 8138 and low 8092 and closed at 8137, total 46 points was played by nifty future throughout the day. Investor now expects the market to consolidate a bit even as the mood remains positive. Many still feel the Nifty could surpass 8150-81200 by coming Monday. 
For tomorrow we are expecting bullish trend will come again… bulls will regain their positions. The level 8150 will be the biggest hurdle for nifty future if this level will cross by nifty future than, new target for nifty will be 8155-8170… at the other side if nifty Will slips down then 8100-8090 will be proved as very good supporting level.
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RESISTANCE: 8150, 8170, 8190
SUPPORT:  8130, 8110, 8090

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