4 February 2015

NIFTY OUTLOOK FOR THURSDAY 5 FEB 2015

SBIN STRATEGY UPDATE   
SBIN STRATEGY GIVEN ON 2 FEB 2015  
SBIN 285 PUT WAS GIVEN TO BUY @ 4.8 AND BOOKED PROFIT IN SBIN 285 PUT NEAR 9 FOR MORE CLICK HERE
The market was remained lackluster .The market traded in a choppy range on Wednesday. The Nifty hovered around the 8,750 level as metal, realty estate and HDFC twins led gains while auto and banking stocks lost ground. The market ended in red. The Nifty extended its losses for third straight session and closed near 8,750 as banks plunged after the Reserve Bank of India didn't tinker with interest rates. The Nifty slipped 32 points and closed at 8723. It touched a high of 8792 and a low of 8704 in trade today.
Tomorrow if the bulls manage to hold the Nifty above 8750 zone then they would try to push it up to levels 8795-8815. Thus, taking out the zone between 9920 and 8835 would be very crucial if it were to turn into a sustainable uptrend. In case, the index falls below 8700 on heavy selling it might retest the strong support zone from 8650 and 8600. Only a strong close above 8830 – 8840 would mean the pullback continuing beyond intraday recovery upswings.
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RESISTANCE: 8760, 8800, 8840
SUPPORT:  8720, 8680, 8640

1 comment:

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