7 November 2014

NIFTY OUTLOOK FOR MONDAY 10 NOVEMBER,2014

"Sell Tatasteel Future below 472 Tgt 468/462 Sl 478"
"Buy Axis Bank Future above 475 Tgt 478/482 Sl 472 "
Nifty came under some pressure today after hitting record highs in the previous four sessions. . Nifty also slipped below the 8300 levels. Nifty started at 8331 made a high of 8360 and low of 8290 and closed at 8337. Total 70 points was played by nifty throughout the day. Sensex fell over 150 points to hit at 27739 at day's low.
The market should not run up continuously. A little bit of consolidation at every stage is extremely healthy for the market and that is a welcome thing. This was a truncated week, but the bias is definitely positive, the market trend still remains on the upside. A very good trading session we are expecting  For Monday.The Nifty is vacillating near about 8330-8360 level. Bulls will try to achieve the target of 8380 once this level is taken out convincingly; the chances will become bright for touching the level 8400 while on lower side it has a strong and immediate support of 8285.
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RESISTANCE: 8350, 8400, 8450
SUPPORT:  8285, 8235, 8185

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