9 October 2015

NIFTY OUTLOOK & FREE FUTURE TIPS FOR MONDAY,12 OCT 2015

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Domestic markets rose to a seven-week high on Friday tracking a rally in Asian markets after minutes from the Federal Reserve's latest meeting quelled expectations of an imminent US rate hike. The gains come as market gears up to kick off earnings season next week, with Infosys reporting quarterly results on Monday. The Sensex ended the day at 27079 levels up 233 points, while broader Nifty index closed 60 points up at 8189. Both indexes had hit their highest intraday levels since mid-August in today's trade.  Sentiment on the Street remained positive with 19 of the 30 stocks ending the day in green.
The market will stay upbeat as we head into the earnings season, and we expect results to drive the movement in the next few weeks. The index will continue to remain strongly bullish by Monday. On Monday another gap up opening could well be likely! We are likely to see further upward movement in the Monday’s session. However, the range between 8240 and 8288 would emerge as a strong supply zone, once if these levels will cross 8300 will be the next target for bulls. At the other side if down trend will take place then 8150 will act as highest supporting level for nifty.
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RESISTANCE: 8235, 8285, 8335
SUPPORT:  8185, 8135, 8085

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