16 January 2015

NIFTY OUTLOOK FOR TOMORROW 16-JAN-2015

"Buy AxisBank 520 Call @ 9.30 Tgt 13.40/18.50 Sl 4"
"Sell Tatamotors Future below 528 Tgt 524.30/521.70 Sl 532.90"
Bulls are back in the action. Nifty was on fire today.  This bullish momentum came in market after the Reserve Bank of India (RBI) surprised with a 25 basis point rate cut and hinted at more easing measures. Today nifty has crossed the level 8500; nifty started at 8424 made a high of 8527 and low of 8380 and closed at 8494 total 147 points was moved by nifty throughout the day. After the rate cut announcement, Bank Nifty the banking share index
touched a record high. The RBI rate cut is a turning point for the markets and it is going to be a mood booster. Now for tomorrow nifty will try to stay on this level of 8500. The 8550-8565 will act as a highest resistance level while 8400-8380 will act as a biggest supports for nifty. According to experts, the rate cut would strengthen the positive momentum in the economy and help kick start the investment cycle which would further stoke earnings at Indian companies.
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RESISTANCE: 8530, 8560, 8590

SUPPORT:  8500, 8470, 8440

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