3 March 2016

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 4 MARCH 2016

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The BSE Sensex and NSE Nifty surged for the third straight day in a row on Thursday as the post-Budget rally continued following creation of fresh bets coupled with a fresh spell of foreign fund inflows. . Markets opened for the day on a positive note and remained bullish through the day’s trading session on the back of positive cues from the global markets. Extending its gains for the third consecutive day, the S&P BSE Sensex gained 364 points to trade above its crucial psychological level of 24000, while CNX Nifty jumped above its key 7450-mark. The Sensex closed 364 points up at 24606, while settled 106.75 points up at 7475.
On Friday we are likely to see further upward movement in the tomorrow’s session. However, the range between 7490 and 7555 would emerge as a strong supply zone, once if these levels will cross 7600 will be the next target for bulls. At the other side if down trend will take place then 7350 will act as highest supporting level for nifty.
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RESISTANCE: 7490, 7540, 7590
SUPPORT:  7440, 7390, 7340

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