16 March 2015

NIFTY OUTLOOK FOR TUESDAY 17 MARCH 2015

ICICIBANK CALL TGT 1ST ACHIEVED..!!!!
MARUTI SUZUKI CALL TGT 1ST ALMOST ACHIEVED
BUY LT FUTURE ABOVE 1700 TGT 1717/1729 SL 1670
SELL NTPC FUTURE BELOW 145 TGT 143.20/141.40 SL 147.40
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Markets opened marginally higher but failed to sustain gains tracking mixed global cues. Nifty ended 14 points down at 8633 after touching a high of 8663 and a low of 8612 intra-day.US Federal Reserve meet which begins on Tuesday will decide the upcoming scenario of market. Indian market have become fearful, in such a scenario it may not be the right time to be greedy but to remain cautious. Investors should be careful while investing in the shaky market.
Unless we see a quick recovery to at least above 8675-level, the Nifty is likely to fall further again. The indications from the Nifty are just that it is trading at 8665, down by 14 points, albeit on low volume. The whole range between 8675 and 8735 would act as a strong supply zone. Only when you see the Nifty taking out 8735 on closing price as of today you would get the indications that a recovery or at least a pullback rally is about to happen. On the downside, if the index were to fall below 8610 on high volume activity and more position building it could well go down to test 8540 through 8520 major support area. 
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RESISTANCE: 8690, 8740, 8790 
SUPPORT:  8640, 8590, 8540

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