23 October 2015

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 26 OCT 2015

Nifty ends tad below 8300; The market has ended with gains, though it cooled off intraday from its initial gains. The Sensex was up 183 points at 27470, and the Nifty up 43  points at 8295. About 1289 shares have advanced, 1425 shares declined, and 154 shares are unchanged. European Central Bank President Mario Draghi said monetary policy alone cannot solve the euro zone's economic problems and called on member countries to take additional actions alongside.

The market remained strong in noon trade, aided by rally in Asian peers on hopes of stimulus package from European Central Bank. The Sensex surged 222.46 points to 27510.12 and the Nifty jumped 56.50 points to 8308.20. The market has touched three-month high with the Sensex rising 212.81 points to 27500.47 and the Nifty climbing 55.45 points to 8307.15. The broader markets under performed benchmarks; the BSE Midcap and Small cap indices rose 0.5 percent each. The market breadth was positive as about 1307 shares have advanced against 564 declining shares on the BSE. he ongoing rally in global markets is being largely driven by the European Central Bank's dovish comments, Nifty future has given an eight week high closing on the last day which is significant since bears have taken a back seat for now and it has closed above the major resistance zone of 8400.
RESISTANCE;8340,8420,8480

SUPPORT;8270,8280,8160

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