27 January 2016

NIFTY OUTLOOK & FREE NIFTY OPTION & FUTURE TIPS FOR 28 JAN 2016

“SELL NIFTY BELOW 7450 TG 7420, 7380 SL 7485” 
“BUY NIFTY 7450 PUT ABOVE 40 TG 55/80 SL 20”
Today market closed on a flat note after swinging between minor gains and losses as investors avoided risky bets ahead of US Federal Reserve policy statement due later in the day.  The  Sensex and Nifty closed the volatile day on a flat note as investors opted to remain on sidelines ahead of January F&O expiry session and US Federal Reserve policy outcome due later in the day. Sensex closed 7 points up at 24492, while Nifty settled 2 points up at 7437. The Nifty 50 futures contract was volatile and moved sideways in a range between 7,400 and 7,500 on Wednesday. The contract fell to a low of 7,415 and has reversed higher from there.The Sensex opened at 24643, touched an intra-day high of 24646 and low of 24458. It finally ended at 24,492. The Nifty opened at 7470 hitting a high of 7478 and low of 7420, before ending with a gain of mere two points at 7437.
There is a strong likelihood of it moving higher to 7490 and 7500 now. The inability to break above 7500 and a subsequent reversal from there could drag the contract lower to 7440. A further break below 7440 can take it lower to 7400 — the lower end of the range.
A breakout on either side of 7400 or 7500 will decide the next trend for the contract. A strong break above 7500 can take the Nifty futures contract higher to 7545 and 7600. On the other hand, a decline below 7400 can pull the contract lower to 7350 and 7300. Traders with a short-term perspective can stay out of the market at the moment and wait for the range breakout, to get a clear cue on the next move.
More about intraday tips on Google +
Support :  7,440, 7,400
Resistance : 7,500, 7,545

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