NIFTY OUTLOOK FOR WEDNESDAY 28-JAN-2015

"Sell BankNifty Future below 20545 Tgt 20480/20400 Sl 20600"
"Buy Maruti Future above 3712 Tgt 3733/3749 Sl 3698"

Nifty breached 8900-mark for the first time as investors cheered the strengthening of Indo-US trade ties. Nifty surpassed the 8900-mark for the first time on optimism over Indo-US nuclear deal amid sustained foreign fund inflows. Nifty on Tuesday opened at 8871 and breached the 8900-mark for the first time as it touched an all-time high of 8925. The nifty ended the day with a gain of 74 points, at a new closing peak of 8910.

For tomorrow if the Nifty manages to take out the level between 8930 and 8950 successfully then we can expect it move up further and probably test the strong supply zone that lies in the range between 8970  and 8990. On the other hand, so long as the Nifty does not fall below the support area between 8870 and 8850, once if these levels will cross 9000 will be the next target for bulls. At the other side if down trend will take place then 8800 will act as highest supporting level for nifty.

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RESISTANCE: 8930, 8960, 8990

SUPPORT:  8900, 8870, 8840