24 November 2014

NIFTY OUTLOOK FOR TUESDAY 25-NOVEMEBER-2014

Infy Call given on 19th nov. Achieved all the targets…!!!
Buy HDIL Future above 83.40 Tgt 84.90/85.80 Sl 82.10
Sell SSLT Future below 236 Tgt 232/228 Sl 238.90
Continuing their record-breaking run, Nifty hit fresh record highs on Monday, buoyed by a rally in global markets and expectations of more reforms from the government. The Nifty hit 8500 levels for the first time and rallied to 8534 at its day's high. Nifty opened at 8490 and closed at 8530 total 44 points was moved nifty throughout the day. Index ended up 0.62 per cent coming off a life high of 8534 hit earlier in the session.
For tomorrow, the level 8555 will likely to act as a strong resistance and the major resistance for the day would be at 8605. The whole range between 8555 and 8605 is likely to act as a strong supply zone; profit taking led selling is highly probable at that zone. We tend to think that it would be very unlikely that the index is going to cross this zone at the very first or second attempt. Thus part profit booking for short term long positions if the index were to reach the above mentioned zone would be a prudent course of action. On the downside, the immediate support zone would be 8455 and 8420 unless this zone is violated decisively, the bulls need not worry.
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RESISTANCE: 8550, 8600, 8650
SUPPORT:  8500, 8450, 8400

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