27 October 2015


"BUY SBIN FUTURE ABOVE 249 TG 253.2/254.5 SL 246.4"
After a volatile day, the market ended with loses. The Sensex slipped  108.52 points or 0.4 percent at 27253.44 and the Nifty was down 27.65 points or 0.3 percent at 8232.90. Thus it closed with downtrend. At the same time the Nifty opened the day at 8241, made a high of 8255, low of 8225 and closed the day  at 8239. Thus the Nifty closed the day around at the same level of opening with no profit no loss condition..On the daily charts both Sensex and Nifty have formed a bearish  formation, which is second consecutive neutral formation over past days. Thus the daily chart  is suggesting a pause in the downward  movement.As  expected the market went just up after it’s opening.
This Resistance zone holds great significance as it is not just a Resistance zone but it also defines the long term trend of the market. The neutral candlestick formations of last few days have done little to instill confidence in the bearish. Thus coming day  will be a critical test for the market not only for the bulls but for the market itself. As market is showing a volatile range trade curely with proper stop losses and levels. Also don’t wait for long profit in intraday as it’s an expiry session market remains unexpected. As per technical indicators an intraday trader can trade for bulls area above 8300 on other hand below 8220 for bear area.
SUPPORT; 8200,8180,8150 

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