4 April 2016

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 5 APRIL 2016

"BUY BANKNIFTY 16000 PUT @ 274 TGT 300/349 SL 232"
"BUY TATAMOTORS FUTURE ABOVE 390 TGT 394/400 SL 384"
TO GET MORE CALLS FOR NIFTY & STOCK FUTURE FILL UP THE FORM GIVEN HERE >>>>>>>>
The market turned volatile after starting off trade on a strong note.  The Nifty 50 futures contract is trading on a mixed note. It opened with a gap up at 7,778 and made an intraday high of 7,809. But the contract failed to sustain higher and has come off from the day’s high, but it managed to regain strength in last hour of trade. Nifty ended in green on Monday ahead of the Reserve Bank of India (RBI) monetary policy review scheduled on April 5 amid firm global cues. Late strength helped the BSE Sensex gain more than 100 points .The Sensex climbed 130 points to 25399 and the Nifty rose 45 points to 7758.
It is currently hovering above a support at 7,750. The bias on the chart suggests that the contract can decline below this immediate support and extend its down move to 7710 and 7675. Short-term traders with high risk appetite can go short. Stop-loss can be placed at 7770 for the target of 7710. important resistances are in between 7780 and 7800 and then at 7820. A strong break above 7820 can boost the bullish momentum and take the contract further higher.
Investors are keenly waiting to get the Reserve Bank of India’s monetary policy out of the way before taking up any fresh trades. a 25-bp cut is already priced in but over & above that may keep northward journey of the market intact. According to me RBI is unlikely to disappoint the street and even a cut of 50 basis points cannot be ruled out. As long as both global liquidity and markets remain stable, there should be no reason to worry on direction of indices.
Strategy: Go short with a stop-loss at 7775
Supports: 7710, 7680
Resistances: 7770, 7800

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