11 August 2015

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 12 AUGUST 2015

"BUY UNITECH FUTURE ABOVE 8 TG 8.4/8.9 SL 7.2"
"BUY NIFTY 8500 PUT @ 94 TG 116/136 SL 64"
The  Sensex and NSE Nifty closed 235 points and 63 points lower at 27866 and 8462, respectively, led by declines in banking stocks after State Bank of India’s quarterly results disappointed investors. Markets fell for third day in a row tracking weakness in Indian rupee and logjam in Parliament. The Sensex fell 235 points to close at 27866 and Nifty declined 63 points to shut shop at 8462. The sentiment further took a knock after State Bank of India- country's largest public sector lender reported its first quarter numbers.

On the higher side, it must take out initially 8500-8550, and then 8580 decisively for fresh momentum. On the lower side, 8450-8400 is an important support. A close below 8400 at this juncture will be the first sign of weakness and below 8350 the scales will tip in favour of bears.
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RESISTANCE: 8650, 8680, 8710
SUPPORT:  8620, 8590, 8560

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