13 November 2014

NIFTY OUTLOOK FOR 14-NOVEMBER-2014

Buy SSLT 240 Put @ 8 Tgt 12.90/16.50 Sl 4.50
Buy Sail Future above 80.50 Tgt 81.50/82.50 Sl 78.80
The market witnessed a consolidation and ended lower. The benchmarks pared gains after a positive start and are trading in a range. The Sensex was down 68 points or at 27940 and the Nifty slipped 25 points at 8357. Today nifty opened at 8405 made a high of 8408 and low of 8320 total 88 points was moved by nifty throughout the day. It seems like; the
market is taking a breather after hitting record high in previous session. We have moved up from 8320-8330 which is a strong support level but that pullback has not been very inspiring. For tomorrow we 8365-9385 will act as a higher resistance level while 8300 will act as supporting levels for nifty.
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RESISTANCE: 8350, 8400, 8450
SUPPORT:  8285, 8235, 8185

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