25 November 2014

NIFTY OUTLOOK FOR TOMORROW 26-NOVEMEBR-2014


Yesterday’s SSLT Call Rocks..!!!! 1st target achieved and 2nd target almost achieved 
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Markets see biggest single day drop in 6 weeks.Nifty hit new lifetime high of 8,535 but frittered away gains to end over 67 points down at 8,463. The Nifty after scaling a new peak of 8,535 points at the outset, succumbed to profit-booking, spread over a broad-front. Nifty opened at 8530 and it touched a low of 8,429 before settling 67 points, down at 8,463. Total 106 points was moved by nifty throughout the day.
After the recent rally, a correction is overdue and a 3-4 per cent fall will be healthy for the market. However, the slides to be steep as retail investors are waiting on the sidelines to enter the market. We expect that the uptrend will be continue until it falls decisively below 8400 level, For tomorrow 8555 will act as a higher resistance level while 8390 will act as a major supporting level for nifty.

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RESISTANCE: 8490, 8530, 8570

SUPPORT:  8550, 8510, 8470

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