30 September 2014

NIFTY OUTLOOK FOR WEDNESDAY 1-OCTOBER-2014

Sell Sail Future Below 68 Tgt 67.20/66.40 Sl 68.80
Buy IFCI Future Above 37 Tgt 37.70/38.10 Sl 36
Volatility was witnessed in the market today. The Sensex surged as much as 254 points in intra-day trade on Tuesday, but failed to keep the momentum and closed the day with gains of just 33 points in a highly volatile trade, as RBI in its monetary policy review hinted at the possibility of no rate cuts by January 2016.Today Nifty closed at 7964. It made a high of 8030 and a low of 7923 in trade today. Total 107 points was played by nifty throughout the day.

As today nifty  has crossed the level 8000 but was failed to maintain the level and came down at the time of closing. Tomorrow bulls will try to take nifty above 8000 and also try to maintain and stay above this level if bulls get successful then 8030-8055 will be the next target for the bulls.The levels 7935-7920 will act as supporting levels for nifty.
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RESISTANCE: 7950, 8000, 8050
SUPPORT:  7900, 7850, 7800

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