NIFTY OUTLOOK & FREE NIFTY TIPS FOR 8 OCT 2015

YESTERSDAY’S NIFTY FUTURE ACHIEVED 1^ST TGT OF 8195

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FUTURE :

“BULLISH APOLLOHOSP ABOVE 1486 TGT  1493/1500”

“BEARISH APOLLOHOSP BELOW 1482 TGT 1475/1468”

Stock market rose for sixth straight day to close near its one-and-a-half month high. The Sensex closed or 102 points higher, at 27035, while the Nifty closed 24 points, higher at 8177. Nifty future opened gap up at 8146, which had been the major resistance zone. The level of 8188 was also the high for the day and was posted as the opening tick. There was a slow slide after that and it kept moving in and out of the negative zone in the first half of the session. Recovery in the post-noon session was strong and it closed the day with modest gains. Nifty closed 24 points, higher at 8177.

The 8105-8115 zone has given support on the last day and, being an important support, is likely to hold on declines. A breach of this level will find it seeking lower supports at 8060, 8014, 7995. The critical level now is around 7960 and a decisive breach of this region will see the bears returning to the center stage again. However, given the strength of the markets, an immediate test of this region seems less likely. On the higher side, though the immediate resistance is at 8190, the major hurdle is in the 8220-8250 zone. A decisive taking out of this critical resistance on closing basis will give confirmation to the uptrend. Volatility may resurface around this important level as the bears may try to defend this region so one must exercise caution

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RESISTANCE: 8200, 8250, 8300

SUPPORT:  8150, 8100, 8050