31 October 2014


Buy Axis bank Future above 440 Tgt 447/456 Sl 432
Sell Hindalco Future below 162.80 Tgt 161/158.40 Sl 165.70
Both Sensex and Nifty made fresh highs today, surging nearly 2 per cent each in trade on Friday. The Sensex ended the day at 27865, up 519 points. The Nifty shut shop at 8322, up 153 points. Nifty index rose over 150 points to make its all-time high of 8,330Today nifty opened at 8200 made a high of 8330 and low of 8198 and closed at 8322 total 132 points was played by nifty throughout the day.
The index must get past both 8325 and 8355 levels and head for the next supply zone between 8380 and 8400. Secondly, even in the event of any profit taking it should not fall below 8250-8220 major support level. If the above conditions are met then it shows clear strength and we can expect further upswing.
As the Nifty is further looking bullish on charts and fundamentals also seem to be supportive, slight correction might be on the way. But the overall upswing is likely to occur till Nov expiry. Our targets for the Nifty till December are 8400 & 8700 and for the Sensex, 30000 can be the golden figure.
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RESISTANCE: 8325, 8365, 8405
SUPPORT:  8285, 8245, 8205

1 comment:

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