21 September 2015

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 22 SEPTEMBER 2015

"SELL RELIANCE FUTURE BELOW 877 TG 871 SL 884"

"BUY IDFC FUTURE ABOVE 139 TG 142/144 SL 137"
The Sensex and Nifty recouped some of the initial losses to end flat on Monday.
The market sees a smart recovery from lows to end marginally lower led by banks. The Nifty could not manage to conquer 8000 and ended at 7977, down 4 points.  The Sensex slipped 25 points at 26192.
We expect the pressure to continue ahead of the F&O expiry this week. Indian markets are likely to remain range bound till the derivative expiry on Thursday. Nifty is likely to trade between 7800 and 8000 till Thursday.
7950 is a critical support for the next trading session and as long as nifty maintains above this region on declines, the bulls will hold sway. A Decisive breach of 7950 will find it seeking lower levels of 7830-7800. This is also an important support zone and a breach of this region at this juncture will signal weakness. A close below 7750 may lead to fresh panic offloading. On the higher side, 8050-8100 is the immediate resistance. It must sustain decisively above 8050 on closing basis or fresh momentum.
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RESISTANCE: 8000, 8050, 8100
SUPPORT:  7950, 7900, 7850

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