21 January 2016

NIFTY OUTLOOK & FREE NIFTY TIPS FOR FRIDAY 22 JAN 2016

YESTERDAY’S NIFTY FUTURE CALL ROCKS..!!!! ACHIEVED ALL THE TGTS
“BUY BANKNIFTY ABOVE 15200 TG 15300, 15400 SL 15050”
“BUY NIFTY ABOVE 7350 TG 7375,7400 SL 7320”
See-saw movement was there in the market. The market exhibited high amount of choppiness in trade today as index bellwethers were in divergent mood. The morning joy was very short-lived as the market indices, after opening with a gap-up in early trades gave away all its gains and ended with losses. The market indices scuttled between red and green as some sectors such as banks recovered from recent losses although sentiment remained weak as oil prices continued to fall, hitting Asian markets.  The stock markets ended Thursday's volatile session on a weak note for the second day in a row.
In a volatile trading session, the sensex fell 100 points on Thursday to end below its crucial psychological level of 24000, while Nifty settled below its key 7300-mark.  The Sensex opened at 24195, touched an intra-day high of 24352 and low of 23862. It finally ended at 23962. The Nifty opened at 7377 hitting a high of 7399 and low of 7250, before ending with a loss of 33 points at 7277.
Nifty has formed a 'Hammer' pattern in the daily chart .it is making series of lower, which suggests that it is moving in a downward sloping channel with lower trend line support placed around 7200. A break below the same will open the downside towards 7000. However, sharp corrections tend to provide choppy movement wherein index will have few days of uptick followed by few days of downtick. A sustainable move above 7365 levels may result into some pullback rally in upcoming sessions. Going forward, the immediate support for the Nifty is placed at 7240 and 7200 levels. On the flipside, resistance is seen at 7355 and 7385 levels, but the major hurdle is in the 7420-7480 region and till such time that this region is taken out, any rally may be considered as a pull back or of corrective in nature.

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Resistance: 7300, 7350, 7400

Support: 7250, 7200, 7150


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2 comments:

  1. Is this nifty spot or future level

    ReplyDelete
    Replies
    1. Thank you Mr. Darshan for reading my blog. This levels are of nifty future.

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