25 March 2015

NIFTY OUTLOOK FOR THURSDAY 26 MARCH 2015

SBIN CALL ROCKS…!!!!! ALL THE TGTS ACHIEVED
DLF CALL  ACHIEVED 1ST TGT   
FOR MORE ROCKING CALLS FILL UP THE FORM GIVEN TO UR RIGHT SIDE>>>> 
The markets traded in a range today ahead of F&O expiry on Thursday. Indian markets today fell for the sixth day on the trot. The Sensex finally closed 50 points lower at 28112 and the Nifty shut shop at 8530, down 12 points. Caution ahead of the expiry of March month Futures and Options contracts tomorrow and portfolio churning in the view of fiscal year ending next week weighed. A better trend in other Asian markets and higher opening in Europe also failed to buoy sentiments here. Nifty slipped below its important psychological level of 8550. Nifty opened at 8568 made a high of 8573 and low of 8516 total 57 points was moved by nifty throughout the day.

The March series of derivative contracts coming to an end, this essentially suggests a possibility of another round of short covering. We need to see if such a short covering led rally that tapered off close to the anticipated supply zone between 8630 and 8655, hits a speed breaker around the same resistance area.
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RESISTANCE: 8580, 8620, 8660

SUPPORT:  8540, 8500, 8460

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