20 October 2014

NIFTY OUTLOOK FOR TUESDAY 21-OCT-2014

On Monday Sensex and nifty both opened very higher due to, the government took its first reform steps after it came to power, followed by state election results which favoured the ruling Bharatiya Janata Party at the Centre.
After opening higher market movement become range bound. Nifty opened at 7896. Made a high of 7905 and low of 7856, total 49 points was moved by nifty throughout the day. Index swung between the gains and losses near the flat line in afternoon trade. The Nifty ended at 7,879.
It is range bound trading and will continue for tomorrow also. if nifty trades at 7890 or below it for some time that would be a buying opportunity. On upside nifty would find resistance near 7920-79346.the level 7856-7833 will act as a supporting levels for nifty.
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RESISTANCE: 7900, 7935, 7970
SUPPORT:  7865, 7830, 7795

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