19 October 2015

NIFTY OUTLOOK & FREE NIFTY TIPS FOR TUESDAY 20 OCT 2015

"BUY HDIL 77.5 CALL @ 3.6 TG 5.2/6.8 SL 2.2"
 The  sensex and Nifty gained for a third consecutive trading session on Monday as Reliance Industries surged after posting a stronger-than-expected quarterly profit, while sentiment was supported after Chinese economic growth data eased fears of a hard landing. Sensex closed 150 points up at 27364 while Nifty closed 36 points up at 8275. October contracts for Nifty futures were trading not far from the 50-share spot index, indicating little potential upside. Selective companies, especially leaders in sectors, would show better results than others as the economy improves, 8300 will be a resistance for the Nifty in the near term, according to derivative data.
Open interest in the October Nifty futures increased by 8 lakh shares, while premiums also expanded to 21 points from 7.5 points earlier, suggesting massive short covering and fresh addition of long positions. The volatility index fell another 5.21 per cent on Friday to end at 16.275. This shows growing confidence about long positions in the market.This clearly indicates addition of bullish bets after its strong second quarter earnings. Trade tomorrow with following support & resistance.
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RESISTANCE; 8290, 8310, 8340
SUPPORT; 8260, 8240, 8210


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