1 October 2014

NIFTY OUTLOOK FOR TUESDAY 7-OCTOBER-2014

Wishing you a very happy Durga Puja, Navaratri, Dusserha & Id
Yesterday’s Sail Call rocks..!!!! Achieved all the targets
IFCI call not executed 
Range bound movement was there in the market throughout the day. The Sensex pulled nearly 600 points, while the Nifty too faced some bit of selling pressure and pulled nearly 200 points in the past 6 trading sessions.  The Sensex pared most of its gains and was now trading in a range with a negative bias ahead of five day trading holiday (Indian markets will remain closed from 2nd October to 6th October). Nifty index was trading with a negative bias around its crucial psychological support level of 7950. Today Nifty ended at 7,945 down 19 points. It touched a high of 7,977 and a low of 7,936 in trade today. Total 41 points was played by nifty throughout the day.
Both the Sensex and the Nifty slipped below their crucial psychological support levels and are now trading in a narrow range for the past couple of days. Tuesday 7 October will be the next trading session. The Nifty managed to clear the immediate resistance of 8020, but it remained below the next important resistance of 8040. The immediate support for the Nifty continues to remain at 7920 and any breach of 7920 would increase the likelihood of a further decline till 7840, which is the trend reversal level for the index.
More about intraday tips on Google +
RESISTANCE: 7950, 8000, 8050
SUPPORT:  7900, 7850, 7800



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