30 November 2015

NIFTY OUTLOOK : VOLATILE TRADING SESSION EXPECTED TOMORROW 1 DEC 2015

"BUY RELINFRA FUTURE ABOVE 455 TG 459,464 SL 449""SELL ASHOKLEYLAND FUTURE BELOW 94.4 TG 93.25,92.2 SL 96.7"
A highly choppy session ended almost unchanged on Monday even as the Nifty saw a sudden sharp fall during the last hour of trade. Indices were stuck in a narrow trading band and were unable to carry the momentum in either of the directions. Sensex much of the gains to end the day at 26145, up 17 points or 0.07 per cent. The NSE Nifty opened at 7936 hitting a high of 7994 and low of 7954, before ending with a mere loss of 7 points at 7981. The market closed range bound session on a flat note Monday as investors turned cautious ahead of RBI monetary policy and November auto sales data. Today's consolidation was after its rally in previous two trading sessions. The much-awaited RBI monetary policy will be announced on Tuesday, which will be important event for the market ahead of two-day Federal Reserve meeting (on December 15-16). expect the central bank to hold rates.
Nifty Future moved up further firmly on the first day of December contracts. It was stopped in its upsurge around 7985 region. It retreated from this region but closed the day in the positive. The 7995-8005 zone must be taken out for fresh momentum which could lead it to the 8080-8100 region. The 7963 level is the immediate support below which it may find buying support in the 7930-7940 region. The 7880-7900 range may now be considered a critical support region and a decisive breach of this zone could lead to panic offloading.
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Resistance: 8030, 8080, 8130
Support: 7980, 7930, 7880

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