26 September 2014

NIFTY OUTLOOK FOR MONDAY 29-SEP-2014

Buy Unitech Future Above 20.80 Tgt 21.40/21.80 Sl 20.20
Buy SBIN 2400 Put@ 38 Tgt 52/69 Sl 21
On the week ended Friday a smart recovery was seen in the market. Today was the first trading session of October series. See-saw movement was witnessed in market today. Nifty was shuttling between the levels 7841-7993 in early trade after opening lower nifty slipped into the red. Nifty hit its lowest level in more than two weeks. The market alternately swung between gains and losses in mid-afternoon trade. Today nifty future opened at 7956 made a high of 8057 and low of 7897 and closed at 8033. Total 160 points was played by nifty future throughout the day.
Now for Monday if nifty sustains 8040-8055 levels, then more up-trend can be witnessed. Nifty will move between the range of 8045-8078 levels. Bulls will try their best to take nifty above 8075. Definitely some profit booking also lies on cards which can take market back to its comfortable zone of 8100. And for tomorrow 7985 will be proved as very good supporting level for nifty.
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RESISTANCE: 8050, 8100, 8150
SUPPORT:  8000, 7950, 7900

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