NIFTY OUTLOOK & FREE NIFTY TIPS FOR THURSDAY 15 OCT 2015

"BUY RELIANCE 920 CALL@ 12.20 TGT 17.40/19.80 SL 8"

"SELL NIFTY FUTURE BELOW 8105 TGT 8065/8015 SL 8150"

The market has ended at lower levels as corporate India continues to report September quarter earnings. The Sensex closed down 66 points at 26779 and the Nifty was down 23 points at 8107.Nifty is showing a down opening for tomorrow’s market expected to give a good downtrend near to first support but be careful as it has ended by forming a small bulling hammer pattern which can give nifty up direction also so trade with proper support resistance level for good returns on your money.

Unless we see a quick recovery to at least above 8150-level, the Nifty is likely to fall further again. The indications from the Nifty is just that it is trading at 8130 on low volume. The whole range between 8135 and 8155 would act as a strong supply zone. Only when you see the Nifty taking out 8155 on closing price as of today you would get the indications that a recovery or at least a pullback rally is about to happen. On the downside, if the index were to fall below 8075 on high volume activity and more position building it could well go down to test 8040 through 8025  major support area.

Resistance 8130, 8150, 8190

Support 8090, 8070, 8050