24 February 2016

NIFTY OUTLOOK & FREE NIFTY & BANKNIFTY TIPS FOR 25 FEB 2016

TO GET NIFTY & BANKNIFTY TIPS FILL UP THE FORM GIVEN HERE>>>>
Ahead of F&O expiry, Sensex & Nifty fall over 1.2%. Selling pressure continue to weigh markets down as investors are jittery over the on-going Budget session amid derivatives expiry for the month of February, which is due tomorrow. The stock markets extended losses in the last hour of trade. The market closed lower for second consecutive session ahead of Railway Budget and F&O expiry. The Sensex fell 321 points or 1.37% to 23088 & the Nifty dropped 90 points or 1.28% to 7018.  Finally Sensex ended with a loss of 321 points at 23089. The Sensex opened at 23333, touched an intra-day high of 23339 and low of 23057. The NSE Nifty closed with a loss of 91 points at 7019. The NSE Nifty opened at 7075 hitting a high of 7091 and low of 7010. Investors would remain cautious ahead of the announcement of Railway Budget, which will be unveiled tomorrow, and the Economic Survey, which will be released on Friday.
Tomorrow if the bulls manage to hold the Nifty above 7000 zone then they would try to push it up to today’s high level at 7090; however, the intraday volatility that we saw on today indicated the nascent upswing has already run into rough weather. Thus, taking out the zone between 7045 and 7075 would be very crucial if it were to turn into a sustainable uptrend. In case, the index falls below 7000 on heavy selling it might retest the strong support zone from 6970 and 6950.
STRATEGY: GO SHORT WITH A STOP-LOSS AT 7050
SUPPORTS: 6940, 6900
RESISTANCES: 7050, 7100

No comments:

Post a Comment