28 January 2015

NIFTY OUTLOOK FOR TOMORROW 29 JAN 2015

Yesterday’s Maruti Future Call rocks..!!! Achieved all the targets..!!!
Bank Nifty Future Call  almost achieved 1st target 
FOR MORE CALLS FILL UP THE FORM GIVEN TO YOUR RIGHT SIDE>>>>
A highly volatile trading session ended on a flat note. Traders opted to book profits in select shares, ahead of the futures & options expiry tomorrow, after the market scaled fresh record highs in noon deals. Nifty came within striking distance of hitting the 9,000-mark, as the index soared to a high of 8985 in noon trade. The Nifty eventually ended four points higher at 8914.
It is a liquidity driven rally. There had been vain attempts to justify it by various means but the fact remains that it is powered a liquidity glut and so long as that remains the rally will
continue with a devil may care for the fundamentals attitude among the market participants!
Tomorrow, once the Nifty gets past the 8935-mark or rather it takes out the zone between 8935 and 8955; it would seek to conquer the 9000-mark. While believing in the thesis of “liquidity is paramount” technically we ought to keep in mind that the zone between 9050 and 9085 is potentially going to turn out as a very strong supply zone; hence, we can reasonably expect at least a pause and some profit taking if the index were to hit that all important range. Thus, without preempting the upswing terminating itself, it would be prudent to surely lighten up speculative long positions as you see the Nifty scaling up to those levels.  
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RESISTANCE: 8950, 9000, 9050
SUPPORT:  8900, 8850, 8800

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